Treasury 7-Year Notes Go at 1.634% High Yield

The Treasury Department auctioned $28 billion of seven-year notes, with a 1 5/8% coupon and a 1.634% high yield, a price of 99.940670.

The bid-to-cover ratio was 2.65.

Tenders at the high yield were allotted 59.85%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.600%. The low yield was 1.490%.

Tenders totaled $74,269,804,300 and the Treasury accepted $28,000,008,300 including $26,339,300 non-competitive.

The Fed banks bought $7,440,709,800 for their own account in exchange for maturing securities.

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

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