The Treasury Department yesterday auctioned $9 billion of 30-year bonds with a 4 3/8% coupon at a 4.449% high yield, a price of 98.780998.
The bid-to-cover ratio was 1.82 Tenders at the high yield were allotted 61.11%. The median yield was 4.395%. The low yield was 4.340%.
Tenders totaled $16,370,583,000 and the Treasury accepted $9,000,022,000, including $11,583,000 of noncompetitive. Federal Reserve banks also bought $ 4,295,231,000 for their own account in exchange for maturing securities.
The bonds, dated Feb. 15, will mature Feb. 15, 2038.