Investing.com – The U.S. government sold $22 billion of 30-year bonds on Thursday at lower-than-expected yields due to higher demand.
The notes sold at a rate of 4.403%, lower than the pre-sale or issue rate of 4.418% and the highest yield of 4.635% observed in the previous auction.
The bid-to-cover ratio, a measure of demand, rose to 2.49 at the auction from 2.41 seen at the previous auction.
International demand was also strong, with indirect bidders accounting for 68.50% of the auction, above the average of 64.90%.
The yield fell to 4.415% after trading at session highs of around 4.491%.