NEW YORK - The Treasury Department auctioned $29 billion of seven-year notes, with a 1 3/8% coupon, a 1.418% high yield, a price of 99.714418.

The bid-to-cover ratio was 3.11.

Tenders at the high yield were allotted 31.54%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.390%. The low yield was 1.345%.

Tenders totaled $90,611,314,800 and the Treasury accepted $29,000,009,800 including $411,645,000 non-competitive.

The Fed banks bought $411,645,000 for their own account in exchange for maturing securities.

The notes are dated Feb. 29 and are due Feb. 28, 2019.

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