19.09.202317:14:00UTC+00Twenty-Year Bond Auction Attracts Above Average Demand

The Treasury Department announced the results of this month's auction of $13 billion worth of twenty-year bonds on Tuesday, revealing the sale attracted above average demand.

The twenty-year bond auction drew a high yield of 4.592 percent and a bid-to-cover ratio of 2.74.

The Treasury sold $16 billion worth of twenty-year bonds last month, drawing a high yield of 4.499 percent and a bid-to-cover ratio of 2.56.

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 twenty-year bond auctions had an average bid-to-cover ratio of 2.66.

On Thursday, the Treasury is due to announce the details of this month's auctions of two-year, five-year and seven-year notes.