The Treasury Department announced the results of this month's auction of $16 billion worth of twenty-year bonds on Wednesday, revealing the sale attracted below average demand.
The twenty-year bond auction drew a high yield of 5.122 percent and a bid-to-cover ratio of 2.55.
Last month, the Treasury sold $13 billion worth of twenty-year bonds, drawing a high yield of 4.883 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 twenty-year bond auctions had an average bid-to-cover ratio of 2.65.
On Thursday, the Treasury is scheduled to announce the details of this month's auctions of two-year, five-year and seven-year notes.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.