An auction of U.S. Treasury bonds maturing in 20 years encountered strong demand from investors, indicating the market is warming up to owning longer-dated government securities.
The highest yield, or return, accepted by investors at the Monday auction of 20-year Treasury debt was 4.780%. That was lower than the when-issued yield of 4.790%, the yield seen at the 1 p.m. bidding deadline. The fact that the highest accepted yield was lower than the when-issued yield indicates strong demand at auction.
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