India, May 27 -- The Treasury Department continued this week's series of announcements of the results of its long-term securities auctions on Wednesday, revealing this month's sale of $70 billion worth of five-year notes attracted average demand.
The five-year note auction drew a high yield of 4.182 percent and a bid-to-cover ratio of 2.34.
Last month, the Treasury also sold $70 billion worth of five-year notes, drawing a high yield of 3.955 percent and a bid-to-cover ratio of 2.33.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
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The ten previous five-year note auctions had...