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Treasury sells $58B of 3Y notes at 4.548% amid weaker demand

Published 04/09/2024, 01:20 PM
© Reuters.

Investing.com -- The US government sold $58 billion of 3-year notes on Tuesday at a higher-than-expected yield, amid slightly weaker demand ahead of the consumer inflation report due Wednesday.

The notes were awarded at 4.548%, which was below the pre-sale, or when-issue, rate of 4.528%. The higher-than-expected yield come as Treasuries, which trade inversely to yield, have attracted safe-haven bids amid caution ahead of the U.S. consumer inflation report due Wednesday.      

The bid to cover ratio, a measure demand, for the auction was 2.50, down from the 2.60 ratio in the previous auction.

Latest comments

Of course the Treasury has to offer their notes at higher rates. Otherwise, no one will buy our debt.
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