The Treasury Department auctioned $20 billion of nine-year 10-month notes with a 2 1/4% coupon at a 2.579% high yield, a price of 97.156278.

Treasury building.
Treasury building.

The bid-to-cover ratio was 2.69.

Tenders at the high yield were allotted 10.65%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.540%. The low yield was 2.400%.

Tenders totaled $53,805,067,000 and the Treasury accepted $20,000,050,000 including $8,167,000 non-competitive.

The Fed banks bought $677,315,100 for their own account in exchange for maturing securities.

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

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.