NEW YORK - The Treasury Department auctioned $24 billion of 10-year notes with a 2% coupon at a 2.020% high yield, 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 non-competitive.

The Fed 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.

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