iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) |
Why the 52-week Treasury bill auctions see lower demand
The U.S. Treasury auctioned 52-week Treasury bills worth $25 billion on August 19—unchanged from last month. Despite the same auction amount, the bid-to-cover ratio decreased by ~4% to 4.10x. The ratio has averaged 4.45x for all auctions held in 2014.