India, Oct. 26 -- The Treasury Department kicked off this week's series of announcements of the results of its long-term securities auctions on Monday, revealing this month's auction of $69 billion worth of two-year notes attracted slightly below average demand.
The two-year note auction drew a high yield of 4.708 percent and a bid-to-cover ratio of 2.59.
Last month, the Treasury also sold $69 billion worth of two-year notes, drawing a high yield of 4.787 percent and a bid-to-cover ratio of 2.63.
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 two-year note...