U.S. 30-Year Bond Sale Sees Above-Average Demand on Yield
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The U.S. Treasury’s sale of $13 billion in 30-year bonds attracted higher-than-average demand as international investors sought higher returning securities with European sovereign-debt yields close to historic lows.
The bid-to-cover ratio, which gauges demand by the amount bid with the amount offered, was 2.67, compared with an average 2.4 at the past 10 sales. The difference in 10-year yields versus Group of Seven debt is the highest since 2007. Prices of Treasuries were little changed today after rallying earlier on concern political tensions in the Middle East as intensifying.