The Treasury Department auctioned $24 billion of 9-year 11-month notes with a 1 5/8% coupon at a 1.652% high yield, a price of 99.753105.

The bid-to-cover ratio was 2.95.

Tenders at the high yield were allotted 84.32%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.634%. The low yield was 1.599%.

Tenders totaled $61,987,845,500 and the Treasury accepted $21,000,045,500 including $19,945,500 non-competitive.

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

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

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