Foreign Buyers Purchase Above-average Share Of 30-year Bond Sale

An auction of 30-year bonds saw strong demand from foreign buyers, with indirect bidders, a group that includes foreign central banks, scooping up 49% of the $16 billion in newly issued bonds, compared with an average of 44%. The bid-to-cover ratio was 2.26, compared with an average of 2.31. The yield on the newly auctioned bonds was 2.560%, 0.6 basis point higher than the 30-year bond yield the minute before the auction. The yield on the 30-year bond turned lower after the auction, and was last down 0.3 basis point to 2.561%.