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Which of the following best describes the bid to cover ratio in the Treasury auction process A higher bid to cover ratio implies an increased

Which of the following best describes the bid to cover ratio in the Treasury auction process

A higher bid to cover ratio implies an increased demand for Treasury securities

A lower bid to cover ratio implies an increased demand for Treasury securities

A higher bid to cover ratio implies a decreased demand for Treasury securities

There is no relationship between the bid to cover ratio and the demand for Treasury securities

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