Kicking off this week's series of announcements of the results of its long-term securities auctions, the treasury Department on Monday revealed this month's auction of $58 billion worth of three-year notes attracted modestly below average demand.
The three-year note auction drew a high yield of 3.824 percent and a bid-to-cover ratio of 2.56.
The Treasury also sold $58 billion worth of three-year notes last month, drawing a high yield of 3.784 percent and a bid-to-cover ratio of 2.47.
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 2.61.
The Treasury is scheduled to announce the results of this month's auctions of $42 billion worth of ten-year notes and $25 billion worth of thirty-year bonds on Tuesday and Thursday, respectively.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.