The Treasury Department Thursday auctioned $16 billion of 30-year bonds with a 3 5/8% coupon at a 3.652% high yield, a price of 99.510318.

The bid-to-cover ratio was 2.11.

Tenders at the high yield were allotted 85.26%.

The median yield was 3.599%. The low yield was 3.550%.

Tenders totaled $33,820,747,000 and the Treasury accepted $16,000,007,000 including $11,902,000 non-competitive.

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

The bonds dated August 15, will mature August 15, 2043.

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