RSS Ten-Year Note Auction Attracts Above Average Demand

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 RSS Ten-Year Note Auction Attracts Above Average Demand

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This week's series of announcements from the Treasury Department continued on Wednesday with the release of results from its auction of ten-year securities. This month’s auction involved $39 billion in ten-year notes, which experienced higher-than-average demand.

The auction concluded with a high yield of 4.235 percent and a bid-to-cover ratio of 2.70. In comparison, the previous month's auction saw $42 billion in ten-year notes sold, yielding a high return of 4.347 percent and a bid-to-cover ratio of 2.58.

For context, the bid-to-cover ratio is an indicator of interest, representing the number of bids received for each dollar's worth of securities offered.

Historically, the average bid-to-cover ratio over the past ten ten-year note auctions stands at 2.52.

Earlier, on Tuesday, the Treasury reported that this month's sale of $58 billion in three-year notes met with average demand.

The Treasury plans to conclude this week's announcements on Thursday by disclosing the outcome of its auction of $22 billion in thirty-year bonds.

The material has been provided by InstaForex Company - www.instaforex.com
 
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