The Treasury Department has published the outcome of this month's auction for $13 billion in twenty-year bonds, conducted on Tuesday. The auction noted a demand that was below the usual trend. The bonds achieved a high yield of 4.686 percent with a bid-to-cover ratio of 2.50.
In comparison, the previous month saw the Treasury selling $16 billion in twenty-year bonds, garnering a slightly lower high yield of 4.680 percent, accompanied by a bid-to-cover ratio of 2.34. The bid-to-cover ratio serves as an indicator of demand, reflecting the volume of bids received per dollar of securities available for sale. Historically, the last ten auctions of twenty-year bonds have reported an average bid-to-cover ratio of 2.59.
This coming Thursday, the Treasury is expected to disclose details regarding the auctions for two-year, five-year, and seven-year notes scheduled for this month.
The material has been provided by InstaForex Company -
www.instaforex.com
