The Treasury Department auctioned $29 billion of seven-year notes, with a 7/8% coupon, a 0.954% high yield, a price of 99.466290.

The bid-to-cover ratio was 2.64.

Tenders at the high yield were allotted 96.12%. All competitive tenders at lower yields were accepted in full.

The median yield was 0.910%. The low yield was 0.840%.

Tenders totaled $76,422,631,900 and the Treasury accepted $29,000,021,900 including $8,031,900 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The notes are dated July 31 and are due July 31, 2019.

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.