Twenty-year bond auction attracts well below average demand | 20.11.24

(RTTNews) – The Treasury Department on Wednesday announced the results of this month’s auction of $16 billion worth of 20-year bonds, showing sales that attracted well below average demand.

The auction of twenty-year bonds yielded a high yield of 4.680 percent and a bid-to-cover ratio of 2.34.

Last month, the Treasury Department sold $13 billion worth of 20-year bonds, yielding a high interest rate of 4.590 percent and a bid-to-cover ratio of 2.59.

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 twenty-year bonds had an average bid-to-cover ratio of 2.61.

On Thursday, the Treasury Department will announce details of this month’s auctions of two-, five- and seven-year notes.