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

editorial@p2pnews.com

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