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US Treasury sells $22B 30Y bonds at lower-than-expected yield on stronger demand

Published 06/13/2024, 02:11 PM
Updated 06/13/2024, 02:14 PM
© Reuters.

Investing.com -- The U.S. government sold $22 billion of 30-year notes on Thursday at a lower-than-expected yield, driven by stronger demand. 

The notes were awarded at 4.403%, below the pre-sale, or when-issue, rate of 4.418%, and the 4.635% yield high seen in the prior auction. 

The bid to cover ratio, a measure of demand, for the auction rose to 2.49 from 2.41 seen in the prior auction. 

International demand was also robust, with indirect bidders at 68.50% of the auction, above the 64.90% average.

The yield on the 30-Year Treasury fell to 4.415%, after trading at session highs of around 4.491%.

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