The Treasury Department on Thursday announced the details of this month’s auction of twenty-year bonds.
The Treasury revealed it plans to sell $16 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.
Last month, the Treasury also sold $16 billion worth of twenty-year bonds, drawing a high yield of 2.651 percent and a bid-to-cover ratio of 2.72.
The ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.39.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.