Two-Year Note Auction Attracts Modestly Below Average Demand

Trading 23 juil 2019 Donner votre avis

The Treasury Department announced the results of this month's auction of $40 billion worth of two-year notes on Tuesday, revealing the auction attracted modestly below average demand.

The two-year note auction drew a high yield of 1.825 percent and a bid-to-cover ratio of 2.50.

The Treasury also sold $40 billion worth of two-year notes last month, drawing a high yield of 1.695 percent and a bid-to-cover ratio of 2.58.

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 two-year note auctions had an average bid-to-cover ratio of 2.56.

The Treasury is due to announce the results of its auctions of $41 billion worth of five-year notes and $32 billion worth of seven-year notes on Wednesday and Thursday, respectively.


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