US Treasury's $25B 30Y bond auctions tails 3.1bps

Investing.com -- The U.S. government sold $22 billion of 30-year notes on Thursday at a higher-than-expected yield as demand softened at a time when many are wary of exposure to duration with expected rate cuts on the horizon.

The notes were awarded at 4.314%, above the pre-sale, or when-issue, rate of 4.283%, but below the 4.405% yield high seen in the prior auction.

The bid to cover ratio for the auction rose to 2.31 from 2.30 seen in the prior auction, though there was weaker uptake from direct and indirect bidders of 50.5% and 65.2%, compared with six-month averages of 66.4% and 18.4%.

The yield on theUnited States 30-Year trading at 4.303%, nearing session highs of around 4.314%.

You May Also Be Interested In

• Google reportedly backs $15B data center loan for Anthropic in Texas
• JPMorgan downgrades Pirelli to Neutral despite solid first-half results
• Universal Music Q2 revenue jumps on streaming, Downtown deal despite margin woes