The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2% coupon at a 2.066% high yield, a price of 99.413043.
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The bid-to-cover ratio was 2.59.
Tenders at the high yield were allotted 25.03%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.020%. The low yield was 1.945%.
Tenders totaled $54,469,702,200 and the Treasury accepted $21,000,001,700 including $7,572,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Aug. 15, will mature Aug. 15, 2025.
