Tuesday afternoon’s sale of 30-year Treasury bonds was “fairly decent,” said Gregory Faranello, head of U.S. rates trading and strategy at AmeriVet Securities in New York. The bid-to-cover ratio, one measure of demand, was better than the previous auction seen in November, he said via phone, adding that Tuesday’s results produced “a sigh of relief.” Soon after the results came in, the 30-year Treasury yield remained slightly higher on the day, at 4.346%. On Monday, the U.S. government-debt market absorbed two other auctions, a $37 billion sale of 10-year debt that came in weak and a $50 billion sale of 3-year notes, which was met with poor demand.
