FX.co ★ Ten-Year Note Auction Attracts Average Demand

The Treasury Department has disclosed the outcome of its latest series of long-term securities auctions this week. This reveals that the auction of ten-year notes, valued at $42 billion this month, attracted median demand.

The bidding for the ten-year notes concluded at a significantly high yield of 4.483 percent and a bid-to-cover ratio of 2.49, suggesting average interest from investors.

In comparison, last month's ten-year notes auction amounted to $39 billion. It brought in a higher yield of 4.560 percent and a slightly lower bid-to-cover ratio of 2.34. This ratio acts as a gauge of demand, representing the quantity of bids for each dollar's worth of securities for sale.

Reflecting on the past ten auctions, the average bid-to-cover ratio for the ten-year note stands at 2.51.

On a separate note, the auction of three-year notes, priced at $58 billion this month, drew in an average demand as well. The outcome of this month's auction of thirty-year bonds, valued at $25 billion, is expected to be announced by the Treasury Department on Thursday.