US Treasury sells $70B 5-year notes at higher-than-expected yield as demand cools
Source Investing
Investing.com -- The U.S. government sold $70 billion of 5-year notes on Tuesday at a higher-than-expected yield as demand eased slightly amid ongoing expectations for the Federal Reserve to keep rates higher for longer.
The notes were awarded at 4.553%, above below the pre-sale, or when-issue, rate of 4.540%, but below the 4.659% high seen in the prior auction.
In a sign of a slight easing in demand, the bid to cover ratio for the auction fell to 2.30 from 2.39 seen in the prior auction.
The yield on the 5-year Treasury rose to 4.968% following the results, near the day's high of 4.97%
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Top 3 Price Prediction: BTC struggles below key resistance, ETH and XRP eye further weaknessBitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
Bitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
