NEW YORK - The Treasury Department auctioned $21 billion of 9-year, 11-month notes with a 3 5/8% coupon at a 3.735% high yield, a price of 99.0904934
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The bid-to-cover ratio was 3.45.
Tenders at the high yield were allotted 70.94%. All competitive tenders at lower yields were accepted in full.
The median yield was 3.700%. The low yield was 3.636%.
Tenders totaled $72,466,493,000 and the Treasury accepted $21,000,013,900 including $70,503,000 non-competitive.
The Fed banks bought $248,452,700 for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2020.
