Treasury Seven-Year Notes Go at 2.830% High Yield

The Treasury Department Wednesday auctioned $29 billion of seven-year notes, with a 2 3/4% coupon, a 2.830% high yield, and a price of 99.495202.

The bid-to-cover ratio was 2.86. Tenders at the high yield were allotted 80.16%. All competitive tenders at lower yields were accepted in full. The median yield was 2.790%. The low yield was 2.736%.

Tenders totaled $82,902,264,600 and the Treasury accepted $29,000,096,600 including $31,789,600 non-competitive.

The Federal reserve banks bought $1,453,607,000 for their own account in exchange for maturing securities.

The notes are dated Dec. 31 and are due Dec. 31, 2017.

Treasury also sold $25 billion of 56-day cash management bills, dated Dec. 30, due Feb. 24, 2011, at a 0.120% high tender rate.

The bid-to-cover ratio was 4.67. The coupon equivalent was 0.122%. The price was 99.981333. The low bid was 0.060%. The median bid was 0.100%. Tenders at the high were allotted 11.38%.

Tenders totaled $116,752,000,000 and the Treasury accepted $25,000,055,000, including $100,000 non-competitive.

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