Three-Year Note Auction Attracts Modestly Below Average Demand

Trading 09 avr 2019 Donner votre avis

The Treasury Department kicked off this week's series of long-term securities auctions with the sale of $38 billion worth of three-year notes on Tuesday, attracting modestly below average demand.

The three-year note auction drew a high yield of 2.301 percent and a bid-to-cover ratio of 2.49.

Last month, the Treasury also sold $38 billion worth of three-year notes, drawing a higher yield of 2.448 percent and a bid-to-cover ratio of 2.56.

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 three-year note auctions had an average bid-to-cover ratio of 2.59.

Looking ahead, the Treasury is due to sell $24 billion worth of ten-year notes on Wednesday and $16 billion worth of thirty-year bonds on Thursday.

The material has been provided by InstaForex Company -

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