The Treasury Department Wednesdahy auctioned $24 billion of 10-year notes with a 2% coupon at a 2.020% high yield and a price of 99.819726.
The bid-to-cover ratio was 3.05.
Tenders at the high yield were allotted 32.03%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.978%. The low yield was 1.900%. Tenders totaled $73,265,322,600 and the Treasury accepted $24,000,006,600, including $47,322,600 of noncompetitive.
Federal Reserve banks bought $2,926,327,400 for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, 2011, will mature Feb. 15, 2022.