The Treasury Department auctioned $29 billion of seven-year notes, with a 1 7/8% coupon, a 1.932% high yield, a price of 99.628563.
The bid-to-cover ratio was 2.61.
Tenders at the high yield were allotted 2.95%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.898%. The low yield was 1.835%.
Tenders totaled $75,782,868,200 and the Treasury accepted $29,000,017,500 including $12,718,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated June 30 and are due June 30, 2020.