India, Oct. 29 -- The Treasury Department announced the results of this month's auction of $44 billion worth of seven-year notes on Thursday, revealing the sale attracted slightly below average demand.
The seven-year note auction drew a high yield of 4.894 percent and a bid-to-cover ratio of 2.46.
Last month, the Treasury also sold $44 billion worth of seven-year notes, drawing a high yield of 5.085 percent and a bid-to-cover ratio of 2.42.
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 seven-year note auctions had an average bid-to-cover ratio of 2.49.
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