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%
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Here is what you need to know on Friday, May 29:
Understand how the Strait of Hormuz shock moved markets, and what CFD traders watched next.
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
West Texas Intermediate (WTI) oil price extends its losses for the third successive day, trading around $87.20 per barrel during the Asian hours on Friday.
On May 27, Bloomberg reported that copper trading activity has intensified as market expectations of potential copper tariffs under a Trump administration heat up, prompting traders to sh
