The Treasury Department auctioned $24 billion of 10-year notes with a 1 5/8% coupon at a 1.675% high yield, a price of 99.541393.

The bid-to-cover ratio was 2.59.

Tenders at the high yield were allotted 41.69%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.630%. The low yield was 1.559%.

Tenders totaled $62,193,342,300 and the Treasury accepted $24,000,003,800 including $26,797,300 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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