The Treasury Department auctioned $24 billion of 10-year notes with a 2% coupon at a 2.046% high yield, a price of 99.585912.

The bid-to-cover ratio was 2.68.

Tenders at the high yield were allotted 38.76%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.010%. The low yield was 1.940%.

Tenders totaled $64,344,374,900 and the Treasury accepted $24,000,010,900 including $39,174,900 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, 2023.

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