The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2 1/2% coupon at a 2.657% high yield, a price of 98.645362.
The bid-to-cover ratio was 2.58.
Tenders at the high yield were allotted 16.83%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.623%. The low yield was 2.535%.
Tenders totaled $54,199,877,100 and the Treasury accepted $21,000,004,500 including $16,777,100 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, 2023.