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The United States sold $26 billion worth of 30-year bonds at a high yield of 1.406% and awarded 20.72% of bids at high.

The bid-to-cover ratio was 2.14 and non-competitive bids were $8.12 million. According to Reuters, the primary dealer accepted bids 21.34% of the amount tendered in the US 30-year bond sale.

Market reaction

The 10-year US Treasury bond yield surged to its highest level in more than a month at 0.7% and was last seen gaining 2.75% on the day at 0.698%. Meanwhile, the 30-year bond yield was up 1.95% at 1.406%.