Financial News: Thirty-Year Bond Auction Attracts Average Demand

Thirty-Year Bond Auction Attracts Average Demand

05/09/2024 - 14:28:00 (RTTNews)

(RTTNews) - The Treasury Department announced the results of this month's auction of $25 billion worth of thirty-year bonds on Thursday, revealing the sale attracted average demand.

The thirty-year bond auction drew a high yield of 4.635 percent and a bid-to-cover ratio of 2.41.

Last month, the Treasury sold $22 billion worth of thirty-year bonds, drawing a high yield of 4.671 percent and a bid-to-cover ratio of 2.37.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.39.

Earlier this week, the Treasury revealed this month's auctions of $58 billion worth of three-year notes and $42 billion worth of ten-year notes also attracted average demand.

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