After revealing strong demand for its auctions of three-year and ten-year notes, the Treasury Department on Wednesday released the results of its auction of $22 billion worth of thirty-year bonds, which attracted average demand.
The thirty-year bond auction drew a high yield of 1.342 percent and a bid-to-cover ratio of 2.30.
The Treasury sold $17 billion worth of thirty-year bonds last month, drawing a high yield of 1.325 percent and a bid-to-cover ratio of 2.35.
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 2.32.
The Treasury revealed earlier this week that its auctions of $42 billion worth of three-year notes and $32 billion worth of ten-year notes both attracted above average demand.