Treasurys traded higher on Thursday as the U.S. government’s auction of 30-year bonds, the last of three debt auctions this week, was met with weak demand.
The Treasury Department auctioned $16 billion in 30-year bonds at a high yield of 2.560 percent. The bid-to-cover ratio, an indicator of demand, was 2.26, well below the 2.47 recent average.
Indirect bidders, which include major central banks, were awarded 49.4 percent, well above the 47 percent average. Direct bidders, which includes domestic money managers, brought 15.5 percent, versus a recent average of 18 percent.
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