WASHINGTON – The latest auction of two-year and five-year Treasury notes fell short of average demand, according to the Treasury Department. The auction of $54 billion worth of two-year notes and $55 billion worth of five-year notes attracted below average demand, signaling potential concerns in the market. The two-year note auction had a high yield of 4.887 percent and a bid-to-cover ratio of 2.54, while the five-year note auction had a high yield of 4.420 percent and a bid-to-cover ratio of 2.46. These results reflect a decline compared to previous auctions. The Treasury is scheduled to announce the results of this month’s auction of $39 billion worth of seven-year notes on Tuesday.
Treasury’s Two-Year and Five-Year Note Auctions Draw Below Average Demand, US
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