2020.04.0817:24:00UTC+00Thirty-Year Bond Auction Attracts Slightly Above Average Demand

Finishing off this week's announcements of the results of its long-term securities auctions, the Treasury Department revealed Wednesday that its auction of $17 billion worth of thirty-year bonds attracted slightly above average demand.

The thirty-year bond auction drew a high yield of 1.325 percent and a bid-to-cover ratio of 2.35.

Last month, the Treasury sold $16 billion worth of thirty-year bonds, drawing a high yield of 1.320 percent and a bid-to-cover ratio of 2.36.

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 2.32.

The Treasury revealed earlier this week that its auction of $40 billion worth of three-year notes attracted below average demand, while its auction of $25 billion worth of ten-year notes attracted average demand.