13.12.201813:22:00UTC+00Thirty-Year Bond Auction Attracts Average Demand

Following three-year and ten-year note auctions earlier this week, the Treasury Department finished off this week's series of long-term securities auctions with the sale of $16 billion worth of thirty-year bonds on Thursday, attracting average demand.

The thirty-year bond auction drew a high yield of 3.165 percent and a bid-to-cover ratio of 2.31.

Last month, the Treasury sold $19 billion worth of thirty-year bonds, drawing a high yield of 3.418 percent and a bid-to-cover ratio of 2.06.

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 2.30.

Today's thirty-year bond auction came after the Treasury sold $38 billion worth of three-year notes on Tuesday and $24 billion worth of ten-year notes on Wednesday.