Financial News: Five-Year Note Auction Attracts Average Demand

Five-Year Note Auction Attracts Average Demand

08/28/2024 - 13:21:00 (RTTNews)

(RTTNews) - A day after reporting modestly above average demand this month's auction of $69 billion worth of two-year notes, the Treasury Department on Wednesday revealed this month's auction of $70 billion worth of five-year notes attracted average demand.

The five-year note auction drew a high yield of 3.645 percent and a bid-to-cover ratio of 2.41.

The Treasury also sold $70 billion worth of five-year notes last month, drawing a high yield of 4.121 percent and a bid-to-cover ratio of 2.40.

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 five-year note auctions had an average bid-to-cover ratio of 2.39.

On Thursday, the Treasury is due to finish off this week's series of announcements of the results of its long-term securities auction with the reveal of the results of this month's auction of $44 billion worth of seven-year notes.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Hungary Inflation Eases To 3.4%, Lowest In 42 Months (51 min(s), 14 sec(s) ago)
(RTTNews) - Hungary's consumer price inflation slowed in August to the lowest level in three-a ...Full Story»

Austria Production Index Declines At Slower Pace (01 hr(s), 19 min(s), 14 sec(s) ago)
(RTTNews) - Austria's production index posted a slower decline in July, figures from Statistic ...Full Story»

Czech Inflation Steady At 2.2% (02 hr(s), 06 min(s), 14 sec(s) ago)
(RTTNews) - The Czech Republic's consumer price inflation held steady in August after rising i ...Full Story»

Norway Inflation Eases Unexpectedly, Producer Prices Rise Further (03 hr(s), 03 min(s), 14 sec(s) ago)
(RTTNews) - Norway's consumer price inflation eased somewhat in August, while producer prices ...Full Story»

Spain Industrial Output Falls For First Time In 4 Months (03 hr(s), 36 min(s), 14 sec(s) ago)
(RTTNews) - Spain's industrial production declined for the first time in four months in July d ...Full Story»

German Inflation Slows As Estimated (04 hr(s), 13 min(s), 14 sec(s) ago)
(RTTNews) - Germany's consumer price inflation weakened, as initially estimated, in August due ...Full Story»

Italy Industrial Production Falls 0.9%, Exceeds Forecast (04 hr(s), 38 min(s), 14 sec(s) ago)
(RTTNews) - Italy's industrial production declined more-than-expected in July after rising in ...Full Story»

UK Labor Market Cools In July (04 hr(s), 39 min(s), 14 sec(s) ago)
(RTTNews) - The UK unemployment rate dropped in the three months to July and the wage growth softe ...Full Story»