The Treasury Department kicked off this week's series of announcements of the results of its long-term securities auctions on Monday, revealing this month's auction of $56 billion worth of three-year notes attracted below average demand.
The three-year note auction drew a high yield of 4.256 percent and a bid-to-cover ratio of 2.60.
Last month, the Treasury sold $54 billion worth of three-year notes, drawing a high yield of 4.169 percent and a bid-to-cover ratio of 2.58.
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 three-year note auctions had an average bid-to-cover ratio of 2.71.
Looking ahead, the Treasury is due to announce the results of this month's auctions of $39 billion worth of ten-year notes and $22 billion worth of thirty-year bonds on Tuesday and Wednesday, respectively.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.