U.S. Treasurys Creep Higher

Bonds swung higher on Wednesday after the U.S. government’s auction of 10-year Treasury notes, the second of three debt auctions this week.

The Treasury Department auctioned $24 billion in 10-year notes at a high yield of 2.000 percent. The bid-to-cover ratio, an indicator of demand, was 2.62, compared to a recent average of 2.70.

Indirect bidders, which include major central banks, were awarded 59.5 percent, above the 46 percent average.  Direct bidders, which includes domestic money managers, brought 12.7 percent, versus a recent average of 13 percent.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.