Two-Year Note Auction Attracts Strong Demand

Trading 27 avr 2020 Donner votre avis

The Treasury Department kicked off this week's announcements of the results of its long-term securities auctions on Monday, revealing that its auction of $42 billion worth two-year notes attracted well above average demand.

The two-year note auction drew a high yield of 0.229 percent and a bid-to-cover ratio of 3.10.

Last month, the Treasury sold $40 billion worth of two-year notes, drawing a high yield of 0.398 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 two-year note auctions had an average bid-to-cover ratio of 2.54.

The Treasury is due to announce the results of its auction of $43 billion worth of five-year notes this afternoon, while the results of its auction of $35 billion worth of seven-year notes will be revealed on Tuesday.


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