Three-year bond auction attracts slightly above-average demand | 04.11.24

(RTTNews) – The Treasury Department on Monday announced the results of this month’s auction of $58 billion worth of three-year bonds, showing sales attracting slightly above average demand.

The auction of three-year bonds yielded a high yield of 4.152 percent and a bid-to-cover ratio of 2.60.

Last month, the US Treasury also sold $58 billion of three-year bonds, yielding a high yield of 3.878 percent and a bid-to-cover ratio of 2.45.

The bid-to-cover ratio is a measure of demand that indicates the number of bids for each dollar of securities sold.

The ten previous auctions of three-year bonds had an average bid-to-cover ratio of 2.57.

The Treasury Department will announce the results of this month’s auctions of $42 billion in 10-year bonds and $25 billion in 30-year bonds, respectively, on Tuesday and Wednesday.