13.06.201913:26:00UTC+00Thirty-Year Bond Auction Attracts Above Average Demand

The Treasury Department announced the results of its auction of $16 billion worth of thirty-year bonds on Thursday, revealing the sale attracted above average demand.

The thirty-year bond auction drew a high yield of 2.607 percent and a bid-to-cover ratio of 2.32.

Last month, the Treasury sold $19 billion worth of thirty-year bonds, drawing a high yield of 2.892 percent and a bid-to-cover ratio of 2.20.

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 2.26.

Earlier this week, the Treasury announced the results of its auctions of $38 billion worth of three-year notes and $24 billion worth of ten-year notes.