Treasuries little changed after $29b 7-year note auction

Published April 24, 2014 4:00am ET



Treasuries were little changed after the U.S. sale of $29 billion in seven-year notes attracted higher-than-average demand.

The bid-to-cover ratio, which gauges demand by comparing total bids with the amount of securities offered, was 2.60, compared with an average of 2.55 for the previous 10 sales. The notes yielded 2.317 percent, compared with a forecast of 2.306 percent in a Bloomberg News survey of seven of the Federal Reserve’s 22 primary dealers. U.S. debt fell earlier following a report from the Commerce Department that durable-goods orders climbed in March more than forecast, adding to evidence the economy is strengthening.

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