Results are moderate for the monthly 30-year bond auction, where coverage, at 2.38, was in line with last month's auction but below the average for the year, though the bidding was tight, pulling down the high yield to the awarded 3.100 percent, about a half of a basis point below the 1:00 bid. End investor demand was solid and on par with previous bond auctions this year, with non-dealers taking down 73 percent of the $14 billion offering. The 3.100 percent high yield was 3 basis points below last month's awarded rate for the bond.

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dhm