NEW YORK - The Treasury Department auctioned $29 billion of seven-year notes, with a 1 1/8% coupon, a 1.203% high yield, a price of 99.477861.

The bid-to-cover ratio was 2.80.

Tenders at the high yield were allotted 91.24%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.159%. The low yield was 1.000%.

Tenders totaled $81,181,643,400 and the Treasury accepted $29,000,017,400 including $9,173,400 non-competitive.

The Fed banks bought $388,800 for their own account in exchange for maturing securities.

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

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