---
title: "Twenty-Year Bond Auction Attracts Below Average Demand"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287099910.md"
description: "The Treasury Department's auction of $16 billion in twenty-year bonds attracted below average demand, with a high yield of 5.122% and a bid-to-cover ratio of 2.55. This compares to last month's auction of $13 billion, which had a yield of 4.883% and a bid-to-cover ratio of 2.68, below the ten-auction average of 2.65."
datetime: "2026-05-20T17:14:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287099910.md)
  - [en](https://longbridge.com/en/news/287099910.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287099910.md)
---

# Twenty-Year Bond Auction Attracts Below Average Demand

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The Treasury Department announced the results of this month's auction of $16 billion worth of twenty-year bonds on Wednesday, revealing the sale attracted below average demand.

The twenty-year bond auction drew a high yield of 5.122 percent and a bid-to-cover ratio of 2.55.

Last month, the Treasury sold $13 billion worth of twenty-year bonds, drawing a high yield of 4.883 percent and a bid-to-cover ratio of 2.68.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.65.

On Thursday, the Treasury is scheduled to announce the details of this month's auctions of two-year, five-year and seven-year notes.

For comments and feedback contact: editorial@rttnews.com

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