The US Treasury Department on Wednesday said its $22 billion auction of 30-year bonds drew robust investor demand, with the high yield settling at 4.651%.
The bid-to-cover ratio stood at 2.38, reflecting bids worth $52.2 billion for the $21.9 billion in securities offered. Of the accepted bids, primary dealers accounted for $2.1 billion, or 9.5%, while direct and indirect bidders took up $19.7 billion, or 89.5%.
Following the auction results, the yield on the 30-year Treasury eased 1.9 basis points to 4.658% at 1:09 pm ET.
