25.02.202117:30:00UTC+00Seven-Year Note Auction Attracts Well Below Average Demand

The Treasury Department announced the results of this month's auction of $62 billion worth of seven-year notes on Thursday, revealing the sale attracted well below average demand.

The seven-year note auction drew a high yield of 1.195 percent and a bid-to-cover ratio of 2.04.

Last month, the Treasury also sold $62 billion worth of seven-year notes last month, drawing a high yield of 0.754 percent and a bid-to-cover ratio of 2.30.

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 2.42.

Earlier this week, the Treasury revealed its auctions of $60 billion worth of two-year notes and $61 billion worth of five-year notes also attracted below average demand.