The Treasury Department auctioned $29 billion of seven-year notes, with a 1.125% coupon, a 1.248% high yield, a price of 99.178276.
The bid-to-cover ratio was 2.56.
Tenders at the high yield were allotted 51.82%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.204%. The low yield was 1.145%.
Tenders totaled $74,237,367,500 and the Treasury accepted $29,000,073,100 including $11,492,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated March 31 and are due March 31, 2020.