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.

Bloomberg

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.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.