WASHINGTON -- The Treasury sold $11.01 billion of 30-year bonds yesterday at an average yield of 7.56%, up from the 6.43% yield incurred in the previous sale on Aug. 12, 1993 and the highest since the 7.66% on Nov. 12, 1992.
The average coupon was 7 1/2%, up from 6 1/4%. The average price was 99.256.
The Treasury received $21.59 billion in bids for the bonds and accepted those in a range from 7.55% to 7.59%, including $323 million of noncompetitive bids at the average return. The Treasury accepted 72% of the bids at the highest return.
Nothing was accepted at the average from Federal Reserve banks as agents of foreign and international monetary authorities, in exchange for maturing securities. In addition, $450 million was accepted at the avenge price from government accounts and Federal Reserve banks for their own account, in exchange for maturing securities. The additional notes were sold at the avenge price.
The bonds will mature Nov. 15, 2024.