The US Treasury Department sold $70 billion in five-year notes at a high yield of 4.100%, slightly below the previous auction's 4.123%, the government said on Wednesday.
The bid-to-cover ratio, a measure of demand, dipped to 2.33 from 2.42, indicating modestly reduced investor interest. The issue, part of Series W-2030, will mature on March 31, 2030.
According to auction data, 75.8% of the accepted bids came from indirect bidders, typically foreign institutions, up from 74.9%. Direct bidders accounted for 11.0%, a decrease from 14.5%. Primary dealers absorbed the remainder. The median yield for accepted bids was 4.040%, while the lowest accepted yield was 3.980%.