The Treasury Department Wednesday auctioned $13 billion of 29-year, 11-month bonds with a 3 1/8% coupon at a 3.383% high yield and a price of 95.165202. The bid-to-cover ratio was 2.70.

Tenders at the high yield were allotted 74.55%. The median yield was 3.320%. The low yield was 3.200%.

Tenders totaled $35,084,655,600 and the Treasury accepted $13,000,002,600, including $7,505,600 of noncompetitive.

The Federal Reserve banks bought $902,655,800 for their own accounts.

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