The Treasury Department auctioned $23 billion of 10-year notes with a 2 3/8% coupon at a 2.400% high yield, a price of 99.778909.
The bid-to-cover ratio was 2.33.
Tenders at the high yield were allotted 13.56%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.342%. The low yield was 2.281%.
Tenders totaled $53,633,173,800 and the Treasury accepted $23,000,133,800 including $27,173,800 non-competitive.
The Fed banks bought $7,598,659,100 for their own account in exchange for maturing securities.
The notes, which are dated May 15, will mature May 15, 2027.