US treasury auctions off $25 billion of 30 year bonds at a high yield of 5.046%
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The U.S. Treasury auctioned $25 billion of 30-year bonds at a high yield of 5.046%. The auction received a grade of C, slightly better than the recent 10-year auction. The bid-to-cover ratio was 2.30X, with direct bids at 21.74%, indirect bids at 66.6%, and dealer bids at 11.66%. Demand was below average for the three and 10-year bonds, while international demand was near average. The tail was higher than the six-month average, indicating mixed results in investor interest.
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