Five-Year Note Auction Attracts Below Average Demand

Trading 24 juil 2019 Donner votre avis

Continuing the release of the results of this month's long-term securities auctions, the Treasury Department revealed on Wednesday that its auction of $41 billion worth of five-year notes attracted below average demand.

The five-year note auction drew a high yield of 1.824 percent and a bid-to-cover ratio of 2.26.

Last month, the Treasury also sold $41 billion worth of five-year notes, drawing a high yield of 1.791 percent and a bid-to-cover ratio of 2.35.

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 five-year note auctions had an average bid-to-cover ratio of 2.36.

Looking ahead, the Treasury is due to announce the results of its auction of $32 billion worth of seven-year notes on Thursday.


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