The Treasury Department Thursday auctioned $13 billion of 29-year, 11-month bonds with a 3 7/8% coupon at a 3.820% high yield and a price of 100.970530.

The bid-to-cover ratio was 2.73. Tenders at the high yield were allotted 59.64%. The median yield was 3.755%. The low yield was 3.690%. Tenders totaled $35,459,595,900 and the Treasury accepted $13,000,057,900, including $14,295,900 of noncompetitive. The bonds, dated Sept. 15, will mature Aug. 15, 2040.

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