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The Treasury Department announced the results of this month's auction of $62 billion worth of seven-year notes on Thursday, revealing the sale attracted well below average demand.
The seven-year note auction drew a high yield of 1.195 percent and a bid-to-cover ratio of 2.04.
Last month, the Treasury also sold $62 billion worth of seven-year notes last month, drawing a high yield of 0.754 percent and a bid-to-cover ratio of 2.30.
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 seven-year note auctions had an average bid-to-cover ratio of 2.42.
Earlier this week, the Treasury revealed its auctions of $60 billion worth of two-year notes and $61 billion worth of five-year notes also attracted below average demand.
