US Treasury's $13 billion 20-year bond auction sees lower demand

Investing.com -- The U.S. government sold $13 billion of 20-year bonds on Wednesday at a slightly lower-than-expected yield as strong appetite from international bidders offset weaker demand.

The notes were awarded at 4.466%, just below the pre-sale, or when-issue, rate of 4.467%, but above the 4.452% high seen in the prior auction.

The bid to cover ratio, a measure of demand for the auction fell to 2.68 from 2.74 seen in the prior auction.

International buyers led the bidding, with indirect bidders buying 77.2% of the auction, above the 69.7% six-month average.

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