The Treasury Department auctioned $21 billion of 9-year 11-month notes with a 1 3/4% coupon at a 2.209% high yield, a price of 95.933134.

The bid-to-cover ratio was 2.53.

Tenders at the high yield were allotted 33.20%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.168%. The low yield was 2.080%.

Tenders totaled $53,104,649,400 and the Treasury accepted $21,000,017,400 including $16,849,400 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The notes, which are dated May 15, will mature May 15, 2023.

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