Thirty-Year Bond Auction Attracts Above Average Demand

(RTTNews) - A day after revealing this month's three-year and ten-year note auctions attracted average demand, the Treasury Department revealed this month's auction of $22 billion worth of thirty-year bonds attracted above average demand.

The thirty-year bond auction drew a high yield of 4.825 percent and a bid-to-cover ratio of 2.42.

Last month, the Treasury also sold $22 billion worth of thirty-year bonds, drawing a high yield of 4.773 percent and a bid-to-cover ratio of 2.36.

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 2.36.