The Treasury Department auctioned $29 billion of seven-year notes, with a 1 7/8% coupon and a 1.820% high yield, a price of 99.915114.
The bid-to-cover ratio was 2.49.
Tenders at the high yield were allotted 26.73%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.858%. The low yield was 1.790%.
Tenders totaled $72,293,726,600 and the Treasury accepted $29,000,021,100 including $14,876,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated May 31 and are due May 31, 2022.