28.01.202017:16:00UTC+00Seven-Year Note Auction Attracts Modestly Below Average Demand

The Treasury Department finished off this week's announcements of the results of its long-term securities auctions on Tuesday, revealing that its auction of $32 billion worth of seven-year notes attracted modestly below average demand.

The seven-year note auction drew a high yield of 1.570 percent and a bid-to-cover ratio of 2.37.

Last month, the Treasury also sold $32 billion worth of seven-year notes, drawing a high yield of 1.835 percent and a bid-to-cover ratio of 2.47.

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 2.41.

On Monday, the Treasury revealed its auction of $40 billion worth of two-year notes attracted above average demand, while its auction of $41 billion worth of five-year notes attracted below average demand.