August 7, 2018 / 3:43 PM / 4 months ago

Record U.S. 1-month bill supply sold at lower demand

NEW YORK, Aug 7 (Reuters) - The U.S. Treasury Department on Tuesday sold a record amount of 1-month bills, totaling $70 billion, at the lowest bid-to-cover ratio in five weeks, Treasury data showed.

This gauge of overall auction demand for the latest 1-month T-bill issue was 2.65, down from the prior 1-month auction’s 2.70 and the weakest reading since 2.45 set at a one-month bill sale held on July 2. (Reporting by Richard Leong; editing by Jonathan Oatis)

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