The Treasury Department Thursday auctioned $13 billion of 29-year 10-month bonds with a 3 5/8% coupon at a 3.758% high yield, a price of 97.618838.

The bid-to-cover ratio was 2.64.

Tenders at the high yield were allotted 78.39%.

The median yield was 3.740%. The low yield was 3.680%.

Tenders totaled $34,337,325,000 and the Treasury accepted $13,000,040,700 including $2,375,000 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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