The Treasury Department yesterday auctioned $16 billion of 30-year bonds with a 4 3/8% coupon at a 4.469% high yield, a price of 98.454984.
The bid-to-cover ratio was 2.26. Tenders at the high yield were allotted 18.01%. The median yield was 4.388%. The low yield was 4.284%.
Tenders totaled $36,150,215,700 and the Treasury accepted $16,000,002,800, including $27,765,700 of noncompetitive.
Federal Reserve banks also bought $1,989,301,300 for their own account in exchange for maturing securities.