NEW YORK Aug 14 The U.S. Treasury Department on
Thursday sold $16 billion of 30-year bonds at a yield of 3.224
percent, which was the lowest since May 2013 on robust demand
from investors and foreign central banks, Treasury data showed.
The Treasury awarded direct bidders, which include smaller
bond dealers and selected large financial companies, 24.36
percent of the supply, more than double the 11.09 percent set in
July. It was this group's largest share purchase since October
Large fund managers, overseas central banks and other
indirect bidders accounted for 45.86 percent of the purchases of
the latest 30-year issue, which was the final leg of this week's
$67 billion of the federal government quarterly refunding.
It was this group's smallest share purchase at a 30-year
auction since May, Treasury data showed.
Primary dealers or the 22 top U.S. Wall Street firms that
deal directly with the Federal Reserve bought 29.79 percent of
the 30-year offering.
This was their second smallest share since this maturity was
reintroduced in February 2006.
The ratio of the amount of bids to the size of the 30-year
bond offering was 2.60, up from 2.40 the previous month.
The bid-to-cover ratio, which is a gauge of overall demand
at a bond auction, has averaged about 2.50 since the 30-year
(Reporting by Richard Leong; Editing by Chizu Nomiyama)