The Treasury Department auctioned $29 billion of seven-year notes, with a 2% coupon, a 2.026% high yield, a price of 99.831111.
The bid-to-cover ratio was 2.54.
Tenders at the high yield were allotted 88.57%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.990%. The low yield was 1.940%.
Tenders totaled $73,695,039,900 and the Treasury accepted $29,000,034,900 including $12,814,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes are dated July 31 and are due July 31, 2020.