How did the latest 30-year 3-month Treasury bond auction go?
The last 30-year 3-month bond auction, on , sold at a high yield of 5.697% with a bid-to-cover of 3.71.
Discontinued Treasury has not auctioned this term since 10 August 2000.
High yield
5.697%
Bid-to-cover
3.71
Sold
$5.77 billion
The latest auction against its own history
| Measure | This auction | Window | Higher | Lower | Median |
|---|---|---|---|---|---|
| Bid-to-cover ratio | 3.71 | All 1 since 10 February 2000 | 0 of 1 | 1 of 1 | 1.33 |
| High yield | 5.697 | All 2 since 11 August 1994 | 2 of 2 | 0 of 2 | 6.965 |
| High minus median, basis points | 0.9 | All 2 since 11 August 1994 | 2 of 2 | 0 of 2 | 8.2 |
The table scrolls sideways; the first column stays in place.
What this number cannot tell you
- Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
- The auction tail as markets quote it. That compares the high yield with the when-issued yield just before bids closed, a market price that is not public; we show high minus median instead, a different measure.
- Who the bidders are. Indirect bidders include foreign and international accounts bidding through the New York Fed and investors bidding through dealers; Treasury does not publish names.
- Demand on another day. A bid-to-cover ratio counts bids at one auction against the amount offered, and the amount offered changes from auction to auction.
Every 30-year 3-month bond auction
| Auction | Offered as | High yield, % | Bid-to-cover | Offered, $ billion | Sold, $ billion | Indirect, % | Direct, % | Dealers, % | High − median, bp |
|---|---|---|---|---|---|---|---|---|---|
| 29-Year 9-Month, reopening | 5.697 | 3.71 | 5.000 | 5.774 | – | – | – | 0.9 | |
| 30-Year 3-Month | 6.340 | 1.33 | 10.000 | 11.271 | – | – | – | 13.3 | |
| 30-Year 3-Month | 7.590 | – | 11.000 | 11.456 | – | – | – | 3.0 |
The table scrolls sideways; the first column stays in place.
Sources and licence
Sources and licence
- U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data (source). Licence: Public domain, a work of the US federal government
Our text and compilation: CC BY 4.0. How to reuse and cite this page.