The Treasury Department Thursday auctioned $16 billion of 30-year bonds with a 3 7/8% coupon at a 3.954% high yield and a price of 98.619129.
The bid-to-cover ratio was 2.77. Tenders at the high yield were allotted 55.98%. The median yield was 3.890%. The low yield was 3.800%.
Tenders totaled $44,273,930,900 and the Treasury accepted $16,000,008,900, including $53,470,900 of noncompetitive. The Federal Reserve banks also bought $958,131,400 for their own account in exchange for maturing securities.
