Investing.com — The U.S. government sold 20-year Treasuries on Wednesday at a lower-than-expected yield as stronger domestic buying eased the hit from softer demand.
The notes were awarded at 4.900%, 1.1 basis point below the expected yield, or when-issue rate, of 4.911%, but well above the 4.686% high seen in the prior auction.
The bid to cover ratio, a gauge of demand, for the auction rose to 2.75 from 2.50 seen in the prior auction.
Dealers accounted for 51.3% of the bids, with direct bidders at 13.6% of the auction, and indirect bidders at 35.1%.
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