Mumbai, Sept. 11 -- The US Treasury Department on Wednesday reported that this month's auction of $39 billion worth of ten-year notes also attracted above average demand. The ten-year note auction witnessed a high yield of 4.03% and a bid-to-cover ratio of 2.65. The Treasury sold $42 billion worth of ten-year notes last month, drawing a high yield of 4.25% and a bid-to-cover ratio of 2.35. The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold. The ten previous ten-year note auctions had an average bid-to-cover ratio of 2.56.

Published by HT Digital Content Services with permission from Capital Market....