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.
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.