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 $58 billion worth of three-year notes attracted below average demand.
The three-year note auction drew a high yield of 3.965 percent and a bid-to-cover ratio of 2.54.
Last month, the Treasury also sold $58 billion worth of three-year notes, drawing a high yield of 3.897 percent and a bid-to-cover ratio of 2.68.
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 2.64.
The Treasury is due 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 Wednesday, respectively.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.