The U.S. Department of the Treasury offered $13 billion in 20-year bonds, resulting in a high yield of 5.420% at the auction. This rate exceeded the pre-auction trading yield of 5.400% observed at the bid deadline, indicating softer demand relative to market expectations at the time of pricing.

This auction's yield establishes a new peak for the 20-year maturity, which was reintroduced in 2020. It surpasses the previous high set just last month, when the newly issued bonds achieved a yield of 5.204%.

The latest figure underscores a continued upward trend in long-term borrowing costs for the federal government.