The Treasury Department auctioned $21 billion of nine-year 10-month notes with a 1.75% coupon at a 1.459% high yield, a price of 102.654933.

The bid-to-cover ratio was 3.61.

Tenders at the high yield were allotted 51.68%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.440%. The low yield was 1.360%.

Tenders totaled $75,882,716,200 and the Treasury accepted $21,000,540,200 including $7,516,200 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The notes, which are dated May 15, 2012, will mature May 15, 2022.

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