WASHINGTON (dpa-AFX) - Following the sale of $26 billion worth of two-year notes earlier in the day, the Treasury Department sold $34 billion worth of five-year notes on Monday, attracting average demand.
The five-year note auction drew a high yield of 2.066 percent and a bid-to-cover ratio of 2.46.
The Treasury also sold $34 billion worth of five-year notes last month, drawing a high yield of 2.058 percent and a bid-to-cover ratio of 2.44.
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 five-year note auctions had an average bid-to-cover ratio of 2.45.
Looking ahead, the Treasury is due to sell $28 billion worth of seven-year notes on Tuesday.
Copyright RTT News/dpa-AFX