Treasury Reveals Details Of This Month's Twenty-Year Bond Auction
The Treasury Department on Thursday announced the details of this month’s auction of twenty-year bonds.
The Treasury revealed that it plans to sell $24 billion worth of twenty-year bonds, with the results of the auction due to be announced next Monday.
Last month, the Treasury sold $27 billion worth of twenty-year bonds, drawing a high yield of 1.422 percent and a bid-to-cover ratio of 2.27.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Since being reintroduced in May, the six previous twenty-year bond auctions had an average bid-to-cover ratio of 2.45.