NEW YORK - The Treasury Department auctioned $29 billion of seven-year notes, with a 1 1/2% coupon, a 1.590% high yield, a price of 99.406396.

The bid-to-cover ratio was 2.72.

Tenders at the high yield were allotted 22.14%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.529%. The low yield was 1.467%.

Tenders totaled $78,845,635,700 and the Treasury accepted $29,000,043,700 including $12,740,700 non-competitive.

The Fed banks bought $688,451,700 for their own account in exchange for maturing securities.

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

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