The Treasury Department auctioned $21 billion of 9-year 11 month notes with a 2 3/8% coupon at a 2.535% high yield, a price of 980602787.
The bid-to-cover ratio was 2.71.
Tenders at the high yield were allotted 26.18%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.491%. The low yield was 2.430%.
Tenders totaled $56,809,745,700 and the Treasury accepted $21,000,022,700 including $14,595,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Aug. 15, will mature Aug. 15, 2024.