Treasury Announces Details Of Twenty-Year Bond Auction

(RTTNews) - The Treasury Department on Thursday announced the details of this month's auction of twenty-year bonds.

The Treasury revealed plans to sell $16 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury sold $13 billion worth of twenty-year bonds, attracting roughly average demand.

The twenty-year bond auction drew a high yield of 4.590 percent and a bid-to-cover ratio of 2.59, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.61.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.