Top News

Five-Year Note Auction Attracts Below Average Demand

After revealing weaker than expected demand for its two-year note auction earlier on Tuesday, the Treasury Department announced that its auction of $49 billion worth of five-year notes also attracted weaker than average demand.

The five-year note auction drew a high yield of 0.288 percent and a bid-to-cover ratio of 2.32.

Last month, the Treasury sold $47 billion worth of five-year notes, drawing a high yield of 0.330 percent and a bid-to-cover ratio of 2.58.

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 2.46.

The Treasury Department is due to announce the results of its auction of $44 billion worth of seven-year notes on Tuesday.

Related Articles

Back to top button
Close
Close

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!