Financial News: Three-Year Note Auction Attracts Well Below Average Demand

Three-Year Note Auction Attracts Well Below Average Demand

04/09/2024 - 13:07:00 (RTTNews)

(RTTNews) - The Treasury Department announced the results of this month's auction of $58 billion worth of three-year notes on Tuesday, revealing the sale attracted well below average demand.

The three-year note auction drew a high yield of 4.548 percent and a bid-to-cover ratio of 2.50.

Last month, the Treasury sold $56 billion worth of three-year notes, drawing a high yield of 4.256 percent and a bid-to-cover ratio of 2.60.

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 three-year note auctions had an average bid-to-cover ratio of 2.67.

Looking ahead, the Treasury is due to announce the results of this month's auctions of $39 billion worth of ten-year notes and $22 billion worth of thirty-year bonds on Wednesday and Thursday, respectively.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Inflation Steady At 2.2% (03 hr(s), 19 min(s), 09 sec(s) ago)
(RTTNews) - Germany's consumer prices logged a steady pace of increase in April reflecting the ...Full Story»

Eurozone Economic Confidence Weakens In April (04 hr(s), 15 min(s), 09 sec(s) ago)
(RTTNews) - Euro area economic sentiment deteriorated further in April largely reflecting the diff ...Full Story»

Turkey's Economic Confidence Falls To 99.0 (04 hr(s), 31 min(s), 09 sec(s) ago)
(RTTNews) - Turkey's economic sentiment weakened in April from a nine-month high in the previo ...Full Story»

Belgium GDP Growth Stable At 0.3% (05 hr(s), 31 min(s), 09 sec(s) ago)
(RTTNews) - Belgium's economy expanded at a steady rate in the first quarter of 2024, prelimin ...Full Story»

German Companies' Price Expectations Rise Slightly - Ifo (07 hr(s), 23 min(s), 09 sec(s) ago)
(RTTNews) - More companies in Germany plan to raise prices in April and inflation is likely to rem ...Full Story»

Finland Consumers More Gloomy In April, Business Morale Weakens (07 hr(s), 35 min(s), 09 sec(s) ago)
(RTTNews) - Finland's consumers expressed a more pessimistic approach in April, survey figures ...Full Story»

Spain Inflation Rises To 3.3%, Less Than Forecast (08 hr(s), 32 min(s), 09 sec(s) ago)
(RTTNews) - Spain's consumer price inflation rose less than expected in April to the highest l ...Full Story»

Swedish Economy Contracts Further (09 hr(s), 24 min(s), 09 sec(s) ago)
(RTTNews) - Sweden's economy shrank for the fourth consecutive quarter in the three months e ...Full Story»