The Treasury Department on Tuesday announced the results of this month’s auction of $22 billion worth of twenty-year bonds.
The twenty-year bond auction drew a high yield of 1.213 percent and a bid-to-cover ratio of 2.39.
Last month, the Treasury sold $25 billion worth of twenty-year bonds, drawing a high yield of 1.185 percent and a bid-to-cover ratio of 2.26.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Since being reintroduced in May, the twenty-year bond auctions have had an average bid-to-cover ratio of 2.46.