After announcing the results of its auctions of three-year and ten-year notes earlier this week, the Treasury Department revealed Thursday that its auction of $16 billion worth of thirty-year bonds attracted average demand.
The thirty-year bond auction drew a high yield of 2.170 percent and a bid-to-cover ratio of 2.25.
The Treasury also sold $16 billion worth of thirty-year bonds last month, drawing a high yield of 2.270 percent and a bid-to-cover ratio of 2.22.
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 thirty-year bond auctions had an average bid-to-cover ratio of 2.24.
Earlier this week, the Treasury revealed its auction of $38 billion worth of three-year notes attracted modestly below average demand, while its auction of $24 billion worth of ten-year notes attracted slightly above average demand.