The Treasury Department auctioned $29 billion of seven-year notes, with a 1.375% coupon, a 1.416% high yield, a price of 99.727681.

The bid-to-cover ratio was 2.60.

Tenders at the high yield were allotted 32.49%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.368%. The low yield was 1.300%.

Tenders totaled $75,463,545,000 and the Treasury accepted $29,000,019,000 including $10,545,000 non-competitive.

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

The notes are dated Jan. 31 and are due Jan. 31, 2020.

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