The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 1 5/8% coupon at a 1.895% high yield, a price of 97.567574.
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The bid-to-cover ratio was 2.49.
Tenders at the high yield were allotted 81.84%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.830%. The low yield was 1.761%.
Tenders totaled $49,768,008,200 and the Treasury accepted $20,000,048,200 including $13,348,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2026.
