The U.S. Treasury's 7-year note auction showed in-line demand Thursday, with the high yield down from last month's auction.
The Treasury sold $44 billion in 7-year notes at a high yield of 4.894%, the same as the when-issued yield at the time of the auction. The previous auction had a high yield of 5.085%.
The bid-to-cover ratio, a measure of investor demand, was 2.46, compared with 2.42 at the previous auction.
Indirect bidders, a group that includes foreign buyers, took 57.8% of the auction, compared with 57.2% at the previous auction.
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