NEW YORK - The Treasury Department auctioned $25 billion of 10-year notes with a 3 5/8% coupon at a 3.692% high yield, a price of 99.4438944
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The bid-to-cover ratio was 2.67.
Tenders at the high yield were allotted 95.17%. All competitive tenders at lower yields were accepted in full.
The median yield was 3.640%. The low yield was 3.537%.
Tenders totaled $66,838,081,500 and the Treasury accepted $25,000,006,500 including $119,881,500 non-competitive.
The Fed banks bought $2,807,451,500 for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2020.
