Financial News: Two-Year Note Auction Attracts Strong Demand

Two-Year Note Auction Attracts Strong Demand

07/23/2024 - 13:14:00 (RTTNews)

(RTTNews) - Kicking off this week's series of announcements of the results of its long-term securities auctions, the Treasury Department on Tuesday revealed this month's auction of $69 billion worth of two-year notes attracted well above average demand.

The two-year note auction drew a high yield of 4.434 percent and a bid-to-cover ratio of 2.81.

Last month, the Treasury also sold $69 billion worth of two-year notes, drawing a high yield of 4.706 percent and a bid-to-cover ratio of 2.75.

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 two-year note auctions drew a high yield of 2.61.

The Treasury is due to announce the results of this month's auctions of $70 billion worth of five-year notes and $44 billion worth of seven-year notes on Wednesday and Thursday, respectively.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (09 hr(s), 23 min(s), 56 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (09 hr(s), 56 min(s), 56 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (10 hr(s), 33 min(s), 56 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (10 hr(s), 40 min(s), 56 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (11 hr(s), 06 min(s), 56 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (11 hr(s), 33 min(s), 56 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (12 hr(s), 20 min(s), 56 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (12 hr(s), 51 min(s), 56 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»