The Treasury Department Thursday auctioned $16 billion of 30-year bonds with a 2 3/4% coupon at a 2.820% high yield, a price of 98.589255.

The bid-to-cover ratio was 2.77.

Tenders at the high yield were allotted 61.46%.

The median yield was 2.800%. The low yield was 2.750%.

Tenders totaled $44,304,343,800 and the Treasury accepted $16,000,008,200 including $16,563,800 non-competitive.

The Fed banks also bought nothing for their own account in exchange for maturing securities.

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

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