The US Treasury sold $13 billion in 20-year bonds on Tuesday at a high yield of 4.632%, down from 4.830% in the previous auction.
The bid-to-cover ratio, which measures demand, rose to 2.78 from 2.43. Direct bidders were awarded 22.4% of the accepted tenders, while indirect bidders, including foreign institutions, secured 68.8%.
According to auction details, competitive bids totaled $36.08 billion, with $12.92 billion accepted. Noncompetitive bids added $78.76 million, bringing the total accepted amount to $13 billion. Primary dealers, who act as market makers, received only $1.14 billion, while indirect bidders claimed the largest share at nearly $8.9 billion.
