WASHINGTON (dpa-AFX) - Following the sale of $26 billion worth of two-year notes, the Treasury Department sold $34 billion worth of five-year notes on Monday, attracting slightly above average demand.
The five-year note auction drew a high yield of 1.742 percent and a bid-to-cover ratio of 2.58.
The Treasury also sold $34 billion worth of five-year notes last month, drawing a high yield of 1.884 percent and a bid-to-cover ratio of 2.58.
The ten previous five-year note auctions had an average bid-to-cover ratio of 2.46.
Looking ahead, the Treasury is due to finish off this week's long-term securities auctions with the sale of $28 billion worth of seven-year notes on Tuesday.
Copyright RTT News/dpa-AFX