The Treasury Department Wednesday auctioned $21 billion of nine-year, 11-month notes with a 2 5/8% coupon at a 2.670% high yield and a price of 99.607796. The bid-to-cover was 3.21.
Tenders at the high yield were allotted 54.70%. The median yield was 2.630%. The low yield was 2.538%. Tenders totaled $67,438,329,700 and Treasury accepted $21,000,009,700, including $40,222,200 of noncompetitive. Federal Reserve banks bought $227,181,800 in exchange for maturing securities. Treasury also auctioned $35 billion of four-week bills at a 0.090% high yield, a price of 99.993000.
The coupon equivalent was 0.091%. The bid-to-cover ratio was 4.16. Tenders at the high rate were allotted 70.18%. The median yield was 0.080%. The low yield was 0.050%. Tenders totaled $145,431,596,200 and the Treasury accepted $35,000,216,200, including $293,270,200 of noncompetitive.