The U.S. government sold $22 billion of 30-year Treasuries on Wednesday at a higher-than-expected yield amid steady demand from international and domestic bidders.
The long bond was awarded at 4.734%, 0.4 basis point above the expected yield, or when-issue rate, of 4.730%, and above the 4.651% high seen in the prior auction.
The bid to cover ratio, a gauge of demand, for the auction rose to 2.38, unchanged from the prior auction.
Dealers, who are often buyers of last resort, represented 52.3% of submitted bids, direct bidders 15.4%, and indirect bidders 31.3%. In actual takedowns, indirect bidders took 8.7% of the issue, below their six-month average of 13.0%.
Following the sale, 30-year bonds were quoted at 4.735%, after trading at around 4.729% at the highs of the day.
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