The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 1 3/4% coupon at a 2.670% high yield, a price of 92.085831.
The bid-to-cover ratio was 2.57.
Tenders at the high yield were allotted 19.76%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.637%. The low yield was 2.550%.
Tenders totaled $53,906,291,200 and the Treasury accepted $21,000,017,600 including $20,591,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated May 15, will mature May 15, 2023.