The Treasury Department continued this week’s series of long-term securities auctions with the sale of $21 billion worth of ten-year notes on Wednesday.
The ten-year note auction drew a high yield of 2.461 percent and a bid-to-cover ratio of 2.74.
Last month, the Treasury sold $24 billion worth of ten-year notes, drawing a high yield of 2.237 percent and a bid-to-cover ratio of 2.72.
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 ten-year note auctions had an average bid-to-cover ratio of 2.68.
Today’s ten-year note auction came after the sale of $24 billion worth of three-year notes on Tuesday and will be followed by the sale of $13 billion worth of thirty-year bonds on Thursday.
The material has been provided by InstaForex Company – www.instaforex.com