The Treasury Department Thursday auctioned $13 billion of 29-year 11-month bonds with a 3 5/8% coupon at a 3.820% high yield, a price of 96.536207.

The bid-to-cover ratio was 2.40.

Tenders at the high yield were allotted 58.87%.

The median yield was 3.779%. The low yield was 3.720%.

Tenders totaled $31,168,806,800 and the Treasury accepted $13,000,006,800 including $6,306,800 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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