10.12.201917:20:00UTC+00Ten-Year Note Auction Attracts Average Demand

Continuing this week's announcements of the results of its long-term securities auctions, the Treasury Department revealed Tuesday that its auction of $24 billion worth of ten-year notes attracted average demand.

The ten-year note auction drew a high yield of 1.842 percent and a bid-to-cover ratio of 2.43.

Last month, the Treasury sold $27 billion worth of ten-year notes, drawing a high yield of 1.809 percent and a bid-to-cover ratio of 2.49.

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 2.41.

On Monday, the Treasury revealed that this month's auction of $38 billion worth of three-year notes attracted modestly above average demand.

The Treasury is scheduled to announce the results of its auction of $16 billion worth of thirty-year bonds on Thursday.