The Treasury Wednesday auctioned $29 billion of seven-year notes with a 1 3/8% coupon, a 1.430% high yield and a price of 99.635210. The bid-to-cover ratio was 2.68.
Tenders at the high yield were allotted 74.67%. All competitive tenders at lower yields were accepted in full. The median yield was 1.359%. The low yield was 1.300%.
Tenders totaled $77,778,477,500 and the Treasury accepted $29,000,035,500, including $14,032,500 of noncompetitive.
Federal Reserve banks bought $1,313,968,300 for their own accounts. The notes are dated Dec. 31 and due Dec. 31, 2018.
