(RTTNews) - After reporting average demand for this month's two-year and five-year note auctions earlier in the week, the Treasury Department on Thursday revealed this month's auction of $40 billion worth of seven-year notes also attracted average demand.
The seven-year note auction drew a high yield of 3.859 percent and a bid-to-cover ratio of 2.50.
Last month, the Treasury sold $39 billion worth of seven-year notes, drawing a high yield of 4.399 percent and a bid-to-cover ratio of 2.44.
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 previous seven-year note auctions had an average bid-to-cover ratio of 2.51.
Earlier in the week, the Treasury revealed this month's auctions of $57 billion worth of two-year notes and $58 billion worth of five-year notes also attracted roughly average demand.
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