NEW YORK - The Treasury Department Wednesday auctioned $13 billion of 29-year 11-month bonds with a 3% coupon at a 2.720% high yield, a price of 105.703794.

The bid-to-cover ratio was 2.40.

Tenders at the high yield were allotted 32.38%.

The median yield was 2.679%. The low yield was 2.618%.

Tenders totaled $31,164,336,600 and the Treasury accepted $13,000,001,600 including $8,656,600 non-competitive.

The Fed banks also bought $917,863,600 for their own account in exchange for maturing securities.

The bonds, dated May 15, 2012, will mature May 15, 2042.

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