A day after reporting modestly below average demand for this month's five-year note auction, the Treasury Department on Thursday revealed this month's auction of $44 billion worth of seven-year notes also attracted slightly below average demand.
The seven-year note auction drew a high yield of 3.790 percent and a bid-to-cover ratio of 2.50.
Last month, the Treasury also sold $44 billion worth of seven-year notes, drawing a high yield of 4.018 percent and a bid-to-cover ratio of 2.45.
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 seven-year note auctions had an average bid-to-cover ratio of 2.53.
Earlier this week, the Treasury revealed this month's auction of $69 billion worth of two-year notes attracted slightly above average demand, while this month's auction of $70 billion worth of five-year notes attracted modestly below average demand.
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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.