The Treasury Department disclosed the outcomes of this month's auction for $22 billion in thirty-year bonds on Thursday, noting that the demand was slightly below the average. The auction resulted in a high yield of 4.535 percent with a bid-to-cover ratio of 2.39. In contrast, last month’s auction involved $25 billion of thirty-year bonds, achieving a higher yield of 4.608 percent and a bid-to-cover ratio of 2.64. The bid-to-cover ratio is a demand indicator reflecting the number of bids received for each dollar of securities available. Over the past ten auctions of thirty-year bonds, the average bid-to-cover ratio stood at 2.43. Earlier in the week, the Treasury reported that the auction for $58 billion in three-year notes saw average demand, while the auction for $39 billion in ten-year notes experienced above-average demand.
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