Finishing off this week's series of long-term securities auctions, the Treasury Department sold $17 billion worth of thirty-year bonds on Thursday, attracting average demand.
The thirty-year bond auction drew a high yield of 3.130 percent and a bid-to-cover ratio of 2.38.
The Treasury auctioned $13 billion worth of thirty-year bonds last month, drawing a high yield of 3.044 percent and a bid-to-cover ratio of 2.41.
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 2.39.
Today's thirty-year bond auction came after the Treasury sold $31 billion worth of three-year notes on Tuesday and $25 billion worth of ten-year notes on Wednesday.
by P2PNews Staff Writer