The Treasury Department yesterday auctioned $13 billion of 29-year, 10-month bonds with a 4 5/8% coupon at a 4.770% high yield, a price of 97.692939.
The bid-to-cover ratio was 2.73.
Tenders at the high yield were allotted 30.96%.
The median yield was 4.728%. The low yield was 4.650%.
Tenders totaled $35,472,808,800 and the Treasury accepted $13,000,010,300, including $13,408,700 of noncompetitives.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
