2022.05.1217:31:00UTC+00Thirty-Year Bond Auction Attracts Above Average Demand

The Treasury Department finished off this week's series of long-term securities auctions on Thursday, revealing this month's sale of $22 billion worth of thirty-year bonds attracted above average demand.

The thirty-year bond auction drew a high yield of 2.997 percent and a bid-to-cover ratio of 2.38.

Last month, the Treasury sold $20 billion worth of thirty-year bonds, drawing a high yield of 2.815 percent and a bid-to-cover ratio of 2.30.

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 2.31.

The Treasury revealed earlier this week that this month's three-year note auction attracted well above average demand, while this month's ten-year note auction attracted average demand.

Earlier in the day, the Treasury announced the details of this month's auction of twenty-year bonds.

The Treasury said it plans to sell $17 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury sold $16 billion worth of twenty-year bonds, attracting well above average demand.