The Treasury Department auctioned $20 billion of 9-year 10-month notes with a 2 1/4% coupon at a 2.332% high yield, a price of 99.280319.

The bid-to-cover ratio was 2.48.

Tenders at the high yield were allotted 26.37%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.260%. The low yield was 1.888%.

Bloomberg News

Tenders totaled $49,683,161,300 and the Treasury accepted $20,164,418,800 including $7,274,500 non-competitive.

The Fed banks bought $164,386,800 for their own account in exchange for maturing securities.

The notes, which are dated Apr. 17, will mature Feb. 15, 2027.

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