The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 2 1/4% coupon at a 2.560% high yield, a price of 97.296773.
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The bid-to-cover ratio was 2.66.
Tenders at the high yield were allotted 85.47%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.510%. The low yield was 2.449%.
Tenders totaled $53,109,571,600 and the Treasury accepted $20,000,066,600 including $9,671,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2027.
