US Treasury 30-year bond auction shows weak demand

NEW YORK, Aug 7 (Reuters) - The U.S. Treasury's auction on Thursday of new 30-year bonds amounting to $25 billion showed poor demand, with a gauge of investor risk appetite hitting its lowest in nearly two years.

The bid-to-cover ratio came out at 2.27, a level not seen since November 2023.

U.S. 30-year Treasuries sold off after the auction, pushing their yields 1.6 basis points higher to 4.827% US30YT=RR.

This followed an equally weak 10-year sale on Wednesday that primary dealers taking in 16.2% of the total supply, the largest takedown in a year. That suggested there was low appetite for the new issuance that primary dealers had to step in and absorb the remaining supply.