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Ahead of the announcement of the results of a thirty-year bond auction later in the day, the Treasury Department on Thursday revealed the details of this month’s auction of twenty-year bonds.

The Treasury said it plans to sell $24 billion worth of twenty-year bonds, with the results of the auction due to be announced next Tuesday.

Last month, the Treasury sold $27 billion worth of twenty-year bonds, drawing a high yield of 1.920 percent and a bid-to-cover ratio of 2.15.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Since being reintroduced last May, the nine previous twenty-year bond auctions had an average bid-to-cover ratio of 2.40.


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