The US Treasury sold $22 billion in 30-year bonds on Thursday at a yield of 4.813%, beating market expectations and signaling robust demand. The result came in 2.6 basis points below the when-issued (WI) level of 4.839%, reflecting a strong auction outcome.
With a bid-to-cover ratio of 2.43, up from 2.37 at the previous sale, the auction drew healthy interest from investors, particularly indirect bidders awarded over $13.5 billion.
The result marks the second consecutive day of strong results at the long end of the yield curve. The auction follows heightened volatility in bond markets due to US trade policy shifts and elevated inflation concerns.
