The Treasury Department auctioned $23 billion of 10-year notes with a 1 5/8% coupon at a 1.730% high yield, a price of 99.039809.
The bid-to-cover ratio was 2.56.
Tenders at the high yield were allotted 4.46%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.690%. The low yield was 1.630%.
Tenders totaled $58,880,124,000 and the Treasury accepted $23,000,031,800 including $24,374,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Feb. 16, will mature Feb. 16, 2026.