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Thursday, November 12, 2009

Treasury Sells $16 Bln In 30-year Bonds At 4.469%

By Deborah Levine

MarketWatch Pulse

NEW YORK -- The Treasury Department sold a record $16 billion in 30-year bonds on Thursday at a yield of 4.469%, higher than traders anticipated. Investors bid for an average of 2.26 times the amount of debt offered, compared to an average of 2.23 times at the last three sales of new 30-year bonds. Indirect bidders, a group that includes foreign central banks, bought 44% of the sale, compared to 48.1% of the last new sale of long bonds in August. That was the only sale that followed a change in how bids are tabulated, which dramatically affected the statistic looked at by the market to gauge demand. Direct bidders -- investors buying for their own accounts - purchased 12.1%, compared to an average of 9.6% at the last three sales of new bonds. After the auction, yields on 10-year notes , which move inversely to prices, reversed an earlier decline and rose 2 basis point to 3.50%.

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