The Treasury Department auctioned $20 billion of 9-year 10-month notes with a 1 5/8% coupon at a 1.765% high yield, a price of 98.739410.
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The bid-to-cover ratio was 2.75.
Tenders at the high yield were allotted 98.52%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.725%. The low yield was 1.651%.
Tenders totaled $54,965,856,900 and the Treasury accepted $20,000,012,900 including $7,636,900 non-competitive.
The Fed banks bought $140,746,000 for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2026.
