Treasury Reveals Details Of This Month's 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 $13 billion worth of twenty-year bonds, with the results of the auction due to be announced next Tuesday.

Last month, the Treasury sold $16 billion worth of twenty-year bonds, attracting well below average demand.

The auction drew a high yield of 4.595 percent and a bid-to-cover ratio of 2.39, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.63.

The Treasury announced the results of this month's auctions of $56 billion worth of three-year notes, $39 billion worth of ten-year notes and $22 billion worth of thirty-year bonds earlier this week.

While the three-year note auction attracted below average demand, the ten-year note auction attracted average demand and the thirty-year bond auction attracted above average demand.