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Treasury Announces Details Of Twenty-Year Bond Auction

The Treasury Department on Thursday announced the details of this month's auction of twenty-year bonds.

The Treasury revealed plans to sell $14 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury sold $17 billion worth of twenty-year bonds, drawing a high yield of 3.290 percent and a bid-to-cover ratio of 2.50.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.48.

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