The Treasury Department on Wednesday announced the results of this month’s auction of $70 billion worth of five-year notes, revealing the sale attracted slightly below average demand.
The five-year note auction drew a high yield of 3.879 percent and a bid-to-cover ratio of 2.36.
Last month, the Treasury also sold $70 billion worth of five-year notes, drawing a high yield of 4.071 percent and a bid-to-cover ratio of 2.39.
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 five-year note auctions had an average bid-to-cover ratio of 2.40.
On Tuesday, the Treasury Department revealed this month’s auction of $69 billion worth of two-year notes attracted slightly above average demand.
The Treasury is scheduled to announce the results of this month’s auction of $44 billion worth of seven-year notes on Thursday.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.