The Treasury Department Tuesday auctioned $21 billion of nine-year, 11-month notes with a 2% coupon at a 2.076% high yield and a price of 99.320389.
The bid-to-cover ratio was 3.24.
Tenders at the high yield were allotted 26.58%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.025%. The low yield was 1.950%. Tenders totaled $68,045,587,300 and the Treasury accepted $21,000,187,300, including $20,387,300 of noncompetitive.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
