The Treasury Department auctioned $11 billion of 29-year, 10-month bonds with a 4 1/4% coupon at a 4.303% high yield, a price of 99.104142.

The bid-to-cover ratio was 2.36.

Tenders at the high yield were allotted 67.88%.

The median yield was 4.230%. The low yield was 4.150%.

Tenders totaled $25,927,500,000 and the Treasury accepted $10,993,568,200, including $6,441,600 of noncompetitive.

Federal Reserve banks also bought $185,945,200 for their own account in exchange for maturing securities.

The bonds, dated July 15, will mature May 15, 2039.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.