AC

Five-Year Note Auction Attracts Slightly Above Average Demand … RTT June 27, 2018 at 06:55PM

Five-Year Note Auction Attracts Slightly Above Average Demand … RTT

 

Five-Year Note Auction Attracts Slightly Above Average Demand

Following yesterday’s auction of $34 billion worth of two-year notes, the Treasury Department sold $36 billion worth of five-year notes on Wednesday, attracting slightly above average demand.

The five-year note auction drew a high yield of 2.719 percent and a bid-to-cover ratio of 2.55.

Last month, the Treasury also sold $36 billion worth of five-year notes, drawing a high yield of 2.864 percent and a bid-to-cover ratio of 2.52.

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 2.48.

The Treasury is due to finish off this week’s series of long-term securities auctions with the sale of $30 billion worth of seven-year notes on Thursday.

 

Read More: Five-Year Note Auction Attracts Slightly Above Average Demand … RTT

gbpusd gbp-usd

Categories: AC, FC, SGM

Tagged as: ,