Following yesterday's sale of $32 billion worth of three-year notes, the Treasury Department sold $21 billion worth of ten-year notes on Wednesday, attracting below average demand.
The ten-year note auction drew a high yield of 2.209 percent and a bid-to-cover ratio of 2.53.
Last month, the Treasury sold $24 billion worth of ten-year notes and drew a high yield of 1.81 percent and a bid-to-cover ratio of 2.70.
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 ten-year note auctions had an average bid-to-cover ratio of 2.83.
Finishing off this week's series of long-term securities auctions, the Treasury is due to sell $13 billion worth of thirty-year bonds on Thursday.
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