The bid-to-cover ratio is the dollar value of bids compared with the dollar value of debt offered. Falling bid-to-cover ratios indicate less robust interest from investors. Yields climbed today after a weak auction of $24 billion in 30-year Treasuries with demand for the debt at 2.24 times the bonds on sale (chart).
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That helped to push stock prices lower today, snapping the longest winning streaks for the Nasdaq and S&P 500 in two years. Both indexes are running into some profit taking right around their 50-day moving averages (chart).