The Treasury Department announced the results of this month's auction of $70 billion worth of five-year notes on Wednesday, revealing the sale attracted modestly below average demand.
The five-year note auction drew a high yield of 3.615 percent and a bid-to-cover ratio of 2.32.
Last month, the Treasury also sold $70 billion worth of five-year notes, drawing a high yield of 3.823 percent and a bid-to-cover ratio of 2.34.
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 2.37.
On Tuesday, the Treasury revealed this month's auction of $69 billion worth of two-year notes attracted slightly above average demand.
The Treasury is due to announce the results of this month's auction of $44 billion worth of seven-year notes on Thursday.
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Market Analysis
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.