The Treasury Department announced the results of this month’s auction of $32 billion worth of ten-year notes on Wednesday, revealing the sale attracted above average demand.
The ten-year note auction drew a high yield of 3.575 percent and a bid-to-cover ratio of 2.53.
Last month, the Treasury also sold $32 billion worth of ten-year notes, drawing a high yield of 3.625 percent and a bid-to-cover ratio of 2.31.
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 ten-year note auctions had an average bid-to-cover ratio of 2.39.
On Tuesday, the Treasury revealed this month’s auction of $40 billion worth of three-year notes attracted well above average demand.
The Treasury is due to announce the results of this month’s auction of $18 billion worth of thirty-year bonds on Thursday.