Investing.com — The U.S. government sold $44 billion of 7-year notes on Thursday at a lower-than-expected yield as U.S. government bonds continued to soak up demand.
The notes were awarded at 4.276%, just below the pre-sale, or when-issue, rate of 4.279%, but well below 4.650% high seen in the prior auction.
In a sign of a stronger demand, the bid to cover ratio for the auction jumped to 2.58 from 2.43 seen in the prior auction.
International demand led the bidding, with indirect bidders at 69.65% of the auction, above the 64.90% average.
The yield on the yield fell to 4.282%, after trading at highs of the day of about 4.35%.
