After yesterday’s announcement of the results of its three-year note auction, the Treasury Department revealed on Wednesday that its auction of $41 billion worth of ten-year notes attracted modestly below average demand.
The ten-year note auction drew a high yield of 1.155 percent and a bid-to-cover ratio of 2.37.
The Treasury sold $38 billion worth of ten-year notes last month, drawing a high yield of 1.164 percent and a bid-to-cover ratio of 2.47.
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 2.43.
On Thursday, the Treasury is due to announce the results of this month’s auction of $27 billion worth of thirty-year bonds.
The material has been provided by InstaForex Company – www.instaforex.com
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