NEW YORK - The Treasury Department Wednesday auctioned $16 billion of 30-year bonds with a 3% coupon at a 3.090% high yield, a price of 98.248216.

The bid-to-cover ratio was 2.73.

Tenders at the high yield were allotted 63.81%.

The median yield was 3.060%. The low yield was 2.970%.

Tenders totaled $43,652,738,900 and the Treasury accepted $16,000,055,600 including $5,030,300 non-competitive.

The Fed banks also bought $1,000,964,200 for their own account in exchange for maturing securities.

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

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.