The Treasury Department auctioned $29 billion of seven-year notes, with a 1.375% coupon, a 1.496% high yield, a price of 99.198680.

The bid-to-cover ratio was 2.70.

Tenders at the high yield were allotted 73.98%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.470%. The low yield was 1.422%.

Tenders totaled $78,369,229,600 and the Treasury accepted $29,000,038,800 including $24,759,600 non-competitive.

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

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

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