The U.S. Treasury awarded $13 billion in 29-year, 11-month notes at Wednesday's auction at a high rate of 3.383%.
The Treasury received bids totaling $35.08 billion and accepted $13 billion. Primary dealers were awarded $7.32 billion, while indirect bidders--a category that includes foreign central bankers--were awarded $3.76 billion.
Indirect bidders got 29% of the total competitive amount accepted; direct bidders received 14.7%.
The bid-to-cover ratio, an indication of demand, was 2.70, the Treasury said.
Tenders submitted at the high yield were allotted 74.55%.
The Federal Reserve purchased $902.66 million in bills for its own account. The bills awarded to the Federal Reserve are in addition to the public offering amount.
The dollar price was 95.165202 and the coupon rate was set at 3.125%, or 3 1/8%.
The median rate was 3.320%; that is, 50% of the amount of accepted competitive bids were tendered at or below that rate. Of the competitive bids accepted, 5% were tendered at or below the rate of 3.20%.
The issue is dated March 15, 2012, and matures on Feb. 15, 2042.
The Cusip number is 912810QU5.
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