The 10-year U.S. Treasury yield fell to 4.15%, the lowest level in four months.

Odaily News The yield on the 10-year Treasury bond fell to 4.15%, the lowest level in four months. In addition, the U.S. Treasury issued $13 billion in 20-year bonds with a winning bid yield of 4.466%, and the pre-issue trading level was 4.467% when the bid closed at 1 pm New York time. Long-term bonds strengthened slightly after the bid results were announced, and the 20-year bond rose slightly during the day. The flattening trend of the yield curve remained unchanged, and the 2s20s yield spread narrowed by 3.5 basis points during the day, close to the intraday low. Primary dealers were allocated 8.5%, up from the record low of the previous month; the allocation ratio of indirect bidders fell to 77.2%, and the allocation ratio of direct bidders was 14.3%; the bid-to-cover ratio was 2.68 times, compared with the average level of 2.67 times in the past six re-issuances.