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Treasury 7-Year Notes Go At 1.260% High Yield

The Treasury Department auctioned $29 billion of seven-year notes, with a 1.250% coupon, a 1.260% high yield, a price of 99.933199.

The bid-to-cover ratio was 2.65.

Tenders at the high yield were allotted 73.75%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.220%. The low yield was 1.170%.

Tenders totaled $76,971,146,000 and the Treasury accepted $29,000,021,000 including $6,846,000 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The notes are dated Feb. 28 and are due Feb. 28, 2020.

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