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.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.