Thirty-Year Bond Auction Attracts Above Average Demand

(RTTNews) - Following yesterday's sale of three-year and ten-year notes, the Treasury Department sold $12 billion worth of thirty-year bonds on Thursday, attracting above average demand.

The thirty-year bond auction drew a high yield of 2.470 percent and a bid-to-cover ratio of 2.44.

The Treasury also sold $12 billion worth of thirty-year bonds last month, drawing a high yield of 2.475 percent and a bid-to-cover ratio of 2.13.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.30.

Today's thirty-year bond auction came after the Treasury sold $24 billion worth of three-year notes and $20 billion worth of ten-year notes on Wednesday.