The Treasury Department auctioned $28 billion of seven-year notes, with a 1 7/8% coupon and a 1.941% high yield, a price of 99.569957.

The bid-to-cover ratio was 2.46.

Tenders at the high yield were allotted 83.43%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.900%. The low yield was 1.688%.

Tenders totaled $68,979,150,800 and the Treasury accepted $28,000,010,800 including $18,666,800 non-competitive.

The Fed banks bought $877,618,000 for their own account.

The notes are dated Aug. 31 and are due Aug. 31, 2024.

Bloomberg News

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