India, Sept. 15 -- The Treasury Department announced the results of this month's auction of $13 billion worth of twenty-year bonds on Tuesday, revealing the sale attracted modestly below average demand.
The twenty-year bond auction drew a high yield of 5.420 percent and a bid-to-cover ratio of 2.57.
Last month, the Treasury sold $16 billion worth of twenty-year bonds, drawing a high yield of 5.204 percent and a bid-to-cover ratio of 2.53.
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 twenty-year bond auctions had an average bid-to-cover ratio of 2.62.
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