2019.12.1217:11:00UTC+00Thirty-Year Bond Auction Attracts Above Average Demand

The Treasury Department finished off this week's announcements of the results of its long-term securities auctions on Thursday by revealing that its auction of $16 billion worth of thirty-year bonds attracted well above average demand.

The thirty-year bond auction drew a high yield of 2.307 percent and a bid-to-cover ratio of 2.46

Last month, the Treasury sold $19 billion worth of thirty-year bonds, drawing a high yield of 2.430 percent and a bid-to-cover ratio of 2.23.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.24.

Earlier this week, the Treasury revealed its auction of $38 billion worth of three-year notes attracted modestly above average demand, while its auction of $24 billion worth of ten-year notes attracted average demand.