The Treasury Department Tuesday auctioned $12 billion of 29-year 11 month bonds with a 3% coupon at a 2.870% high yield, a price of 102.595435.

The bid-to-cover ratio was 2.32.

Bloomberg News

Tenders at the high yield were allotted 63.87%.

The median yield was 2.820%. The low yield was 2.720%.

Tenders totaled $27,829,716,700 and the Treasury accepted $12,000,003,200 including $2,460,700 non-competitive.

The Fed banks purchased nothing for their own account.

The bonds dated May 15, will mature May 15, 2047.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.