India, July 27 -- The Treasury Department on Monday announced the results of this month's auctions of $69 billion worth of two-year notes and $70 billion worth of five-year notes, revealing the sales attracted mixed demand.
While the two-year note auction attracted modestly above average demand, the five-year note auction attracted modestly below average demand.
The two-year note auction drew a high yield of 4.315 percent and a bid-to-cover ratio of 2.66.
Last month, the Treasury also sold $69 billion worth of two-year notes, drawing a high yield of 4.189 percent and a bid-to-cover ratio of 2.64.
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 previ...