The Treasury Department Thursday auctioned $12 billion of 29-year 10-month bonds with a 3% coupon at a 2.936% high yield, a price of 101.261161.

The bid-to-cover ratio was 2.31.

Bloomberg News

Tenders at the high yield were allotted 30.56%.

The median yield was 2.870%. The low yield was 2.500%.

Tenders totaled $27,676,034,300 and the Treasury accepted $12,000,014,300 including $4,044,300 non-competitive.

The Fed banks purchased $273,906,900 for their own account.

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

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