WASHINGTON (dpa-AFX) - The Treasury Department continued this week's series of announcements of the results of its long-term securities auctions on Tuesday, revealing this month's sale of $39 billion worth of ten-year notes, revealing the sale attracted average demand.
The ten-year note auction drew a high yield of 4.175 percent and a bid-to-cover ratio of 2.55.
Last month, the Treasury sold $42 billion worth of ten-year notes, drawing a high yield of 4.074 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 ten-year note auctions had an average bid-to-cover ratio of 2.54.
On Monday, the Treasury revealed this month's sale of $58 billion worth of three-year notes also attracted average demand.
The Treasury is due to finish off this week's series of announcements of the results of its long-term securities auctions on Thursday by revealing the results of this month's sale of $22 billion worth of thirty-year bonds.
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