The Treasury Department finished off today’s series of long-lasting securities auctions with the sale of $16 billion worth of thirty-year bonds on Thursday, drawing in below average demand.
The thirty-year bond auction drew a high yield of 3.035 percent and a bid-to-cover ratio of 2.19.
Last month, the Treasury also offered $16 billion worth of thirty-year bonds, drawing a high yield of 3.165 percent and a bid-to-cover ratio of 2.31.
The bid-to-cover ratio is a procedure of need that shows the amount of bids for each dollar worth of securities being sold.
The ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.32.
Today’s thirty-year bond auction followed the Treasury offered $38 billion worth of three-year notes on Tuesday and $24 billion worth of ten-year notes on Wednesday.
The material has actually been supplied by InstaForex Business – www.instaforex.com