The Treasury Department auctioned $23 billion of 10-year notes with a 2 1/4% coupon at a 2.250% high yield, a price of par.

Bloomberg News

The bid-to-cover ratio was 2.23.

Tenders at the high yield were allotted 54.53%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.200%. The low yield was 2.100%.

Tenders totaled $51,375,027,500 and the Treasury accepted $23,000,036,500 including $27,816,500 non-competitive.

The Fed banks bought $6,920,403,200 for their own account in exchange for maturing securities.

The notes, which are dated Aug. 15, will mature Aug. 15, 2027.

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