The Treasury Department yesterday auctioned $12 billion of 29-year 10-month bonds with a 4 1/2% coupon at a 4.009% high yield, a price of 108.490231.

The bid-to-cover ratio was 2.37. Tenders at the high yield were allotted 27.53%. The median yield was 3.930%. The low yield was 3.825%.

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