**[Market Analysis: Slight Weakness in Demand for U.S. 20-Year Treasury Bonds]** Golden Finance reported on August 20, citing InvestingLive, that the U.S. Treasury issued $18 billion in 20-year Treasury bonds at a maximum yield of 5.204%. Although the U.S. Treasury announced earlier in the day that it would at least double the liquidity support for long-term Treasury bond repurchase operations, the auction revealed slightly weak market demand. The auction showed a tail of 0.5 basis points, with the highest winning yield at 5.204%, higher than the pre-auction "when-issued" (WI) yield of 5.199%. A tail typically indicates that investors are demanding yields slightly higher than the market's prior expectations, suggesting slightly weaker auction performance. The bid-to-cover ratio was 2.53x, below the average of approximately 2.66x from the past six auctions.