The Treasury Department announced the outcomes for its latest auction of $69 billion in two-year notes, reporting stronger than average demand. The auction resulted in a high yield of 4.335 percent with a bid-to-cover ratio of 2.73. In the prior month, the Treasury similarly auctioned $69 billion in two-year notes, achieving a high yield of 4.274 percent and a bid-to-cover ratio of 2.77. The bid-to-cover ratio is an indicator of demand, reflecting the volume of bids submitted for each dollar of securities offered for sale. Historically, yields for the ten preceding two-year note auctions averaged 2.63 percent. Upcoming results for the Treasury's auctions of $70 billion in five-year notes and $44 billion in seven-year notes are scheduled to be disclosed on Tuesday and Thursday, respectively.
The material has been provided by InstaForex Company - www.instaforex.com
The material has been provided by InstaForex Company - www.instaforex.com