Treasury Reveals Details Of This Month's Twenty-Year Bond Auction

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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.


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