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Investors showed slightly weaker-than-expected demand at the U.S. Treasury’s Thursday auction of 30-year bonds, where the $25 billion sale cleared at a 5.441% high yield, above the market yield of 5.437% at the time.
The 30-year Treasury yield rose to 5.447% after the auction. Indirect bidders, a group that includes foreign institutional buyers, took 68% of competitive awards, down from 72% at the previous auction.
The bid-to-cover ratio, which measures demand by comparing bids with the amount offered, was 2.36. It stood at 2.54 in October.
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