Treasury 7-Year Notes Go at 1.389% High Yield

The Treasury Department auctioned $28 billion of seven-year notes, with a 1 3/8% coupon and a 1.389% high yield, a price of 99.681269.

The bid-to-cover ratio was 2.47.

Tenders at the high yield were allotted 96.45%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.347%. The low yield was 1.250%.

Tenders totaled $69,259,828,000 and the Treasury accepted $28,000,000,500 including $13,209,000 non-competitive.

The Fed banks bought $1,706,834,300 for their own account.

The notes are dated Sept. 30 and are due Sept. 30, 2023.

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