WASHINGTON (dpa-AFX) - After reporting above average demand for this month's three-year and ten-year note auctions earlier in the week, the Treasury Department revealed on Thursday that this month's auction of $23 billion worth of thirty-year bonds also attracted modestly above average demand.
The thirty-year bond auction drew a high yield of 4.189 percent and a bid-to-cover ratio of 2.42.
The Treasury sold $18 billion worth of thirty-year bonds last month, drawing a high yield of 3.910 percent and a bid-to-cover ratio of 2.43.
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 2.37.
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