The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 2 1/4% coupon at a 2.180% high yield, a price of 100.619500.

The bid-to-cover ratio was 2.28.

Treasury building.
Treasury building.

Tenders at the high yield were allotted 97.85%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.125%. The low yield was 2.065%.

Tenders totaled $45,666,555,700 and the Treasury accepted $20,000,010,700 including $10,155,700 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, 2027.

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.