Thirty-Year Bond Auction Attracts Average Demand

(RTTNews) - After reporting above average demand for this month's three-year and ten-year notes auctions, the Treasury Department on Thursday revealed this month's auction of $22 billion worth of thirty-year bonds attracted average demand.

The thirty-year bond auction drew a high yield of 4.015 percent and a bid-to-cover ratio of 2.38.

The Treasury sold $25 billion worth of thirty-year bonds last month, drawing a high yield of 4.314 percent and a bid-to-cover ratio of 2.31.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.38.

Earlier this week, the Treasury revealed this month's auctions of $58 billion worth of three-year notes and $39 billion worth of ten-year notes attracted above average demand.