The Treasury Department auctioned $23 billion of 10-year notes with a 2 1/4% coupon at a 2.314% high yield, a price of 99.431569.

Bloomberg News

The bid-to-cover ratio was 2.48.

Tenders at the high yield were allotted 94.01%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.255%. The low yield was 2.200%.

Tenders totaled $56,937,694,600 and the Treasury accepted $23,000,011,600 including $31,145,600 non-competitive.

The Fed banks bought $2,796,772,400 for their own account in exchange for maturing securities.

The notes, which are dated Nov. 15, will mature Nov. 15, 2027.

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