The Treasury Department announced the results of this month's auction of $58 billion worth of five-year notes on Wednesday, revealing the sale attracted average demand.
The five-year note auction drew a high yield of 3.801 percent and a bid-to-cover ratio of 2.50.
The Treasury sold $55 billion worth of five-year notes last month, drawing a high yield of 4.420 percent and a bid-to-cover ratio of 2.46.
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 five-year note auctions had an average bid-to-cover ratio of 2.51.
On Tuesday, the Treasury revealed this month's auction of $57 billion worth of two-year notes also attracted roughly average demand.
The Treasury is due to announce the results of this month's auction of $40 billion worth of seven-year notes on Thursday.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.