NEW YORK - The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 3 5/8% coupon at a 3.510% high yield, a price of 100.951686.
The bid-to-cover ratio was 2.77.
Tenders at the high yield were allotted 78.40%. All competitive tenders at lower yields were accepted in full.
The median yield was 3.450%. The low yield was 3.340%.
Tenders totaled $55,416,276,500 and the Treasury accepted $20,000,016,500 including $45,776,500 non-competitive.
The Fed banks bought $42,285,700 for their own account in exchange for maturing securities.
The notes, which are dated Aug. 15, will mature Aug. 15, 2019.
