Finishing off this week’s series of long-term securities auctions, the Treasury Department sold $28 billion worth of seven-year notes on Thursday, attracting average demand.
The seven-year note auction drew a high yield of 2.370 percent and a bid-to-cover ratio of 2.55.
The Treasury also sold $28 billion worth of seven-year notes last month, drawing a high yield of 2.230 percent and a bid-to-cover ratio of 2.36.
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 seven-year note auctions had an average bid-to-cover ratio of 2.52.
Today’s seven-year note auction came after auctions of $26 billion worth of two-year notes and $34 billion worth of five-year notes earlier this week both attracted below average demand.
The material has been provided by InstaForex Company – www.instaforex.com
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
