Treasury Department Reveals 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 it plans to sell $24 billion worth of twenty-year bonds, with the results of the auction due to be announced next Tuesday.

Last month, the Treasury sold $27 billion worth of twenty-year bonds, drawing a high yield of 1.850 percent and a bid-to-cover ratio of 2.44.

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 twenty-year bond auctions had an average bid-to-cover ratio of 2.34.