Treasury 7-Year Notes Go at 2.250% High Yield

The Treasury Department auctioned $29 billion of seven-year notes, with a 2 1/4% coupon, a 2.250% high yield, a price of par.

The bid-to-cover ratio was 2.58.

Tenders at the high yield were allotted 1.49%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.205%. The low yield was 2.130%.

Tenders totaled $74,846,475,900 and the Treasury accepted $29,000,051,100 including $16,900,900 non-competitive.

The Fed banks bought $9,421,000 for their own account in exchange for maturing securities.

The notes are dated July 31 and are due July 31, 2021.

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