POWERED BY  30-Yr Bond Announcement   Description of Offering Offering Amount $11.0 B  CUSIP Number 912810QB7  Auction Date July 9, 2009  Issue (Settlement) Date July 15, 2009  Maturity Date May 15, 2039  Min Bid Amount $100  Receipt of Tenders Noncompetitive Bids 12:00 Noon ET Competitive Bids 1:00 p.m. ET Definition Treasury notes are sold at regularly scheduled public auctions. The competitive bids at these auctions determine the interest rate paid on each Treasury note issue. A group of 17 securities dealers (as of June 18, 2009), known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold, resell, or trade the securities with other firms. The Treasury announces the amount, date and time of the 30-year note auction. Through 2008, the 30-year bond auctions had been quarterly. In 2009, the Treasury added more auctions that recur almost monthly to help fund the expanding federal deficit. The 30-year bonds are announced around the first week of the month and then auctioned the following week. Generally, the 30-year bonds are issued (settled) on the 15th of the month, unless it falls on a weekend or holiday, and then they are issued on the next business day. The issuance of new 30-year bonds went on hiatus in 2001 but the Treasury reinstituted them in 2006. (Department of the Treasury)  Why Investors Care   Legal Notices | ©Copyright 2000-2010 Econoday, Inc.  powered by