The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 1 5/8% coupon at a 1.702% high yield, a price of 99.299186.
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The bid-to-cover ratio was 2.70.
Tenders at the high yield were allotted 11.21%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.660%. The low yield was 1.595%.
Tenders totaled $54,019,494,100 and the Treasury accepted $20,000,015,600 including $12,054,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated May 15, will mature May 15, 2026.
