U.S. Treasury Sells $22 Billion of 30-Year Bonds at 5.058% Yield as Demand Rises

The U.S. Treasury sold $22 billion of 30-year bonds in an auction that cleared at a high yield of 5.058 percent. The result marked an increase from the 5.020 percent high yield recorded in the previous comparable auction.

The bid-to-cover ratio reached 2.44, compared with 2.33 in the prior sale. Indirect bidders accepted 77.74 percent of the offering, a sharp rise from 60.0 percent previously. Direct bidders took 12.21 percent, down from 25.3 percent.

Primary dealers received 10.1 percent of the allocation. The when-issued yield stood at 5.061 percent ahead of the results. The auction stopped through by 0.3 basis points, and 7.13 percent of bids were awarded at the high yield.