Treasury 10-Year Notes Go At 3.937% High Yield

The Treasury Department yesterday auctioned $15 billion of 10-year notes, with a 3 7/8% coupon at a 3.937% high yield, a price of 99.491561.

The bid-to-cover ratio was 2.21. Tenders at the high yield were allotted 39.63%. The median yield was 3.883%. The low yield was 3.820%.

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