Financial News: Three-Year Note Auction Attracts Modestly Above Average De

Three-Year Note Auction Attracts Modestly Above Average Demand

01/06/2025 - 13:10:00 (RTTNews)

(RTTNews) - Kicking off this week's series of announcements of the results of its long-term securities auctions, the Treasury Department on Monday revealed this month's auction of $58 billion worth of three-year notes attracted modestly above average demand.

The three-year note auction drew a high yield of 4.332 percent and a bid-to-cover ratio of 2.62.

Last month, the Treasury also sold $58 billion worth of three-year notes, drawing a high yield of 4.117 percent and a bid-to-cover ratio of 2.58.

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 2.57.

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 Tuesday and Wednesday, respectively.

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