The Treasury Department auctioned $29 billion of seven-year notes, with a 2% coupon, a 2.058% high yield, a price of 99.623686.

The bid-to-cover ratio was 2.46.

Tenders at the high yield were allotted 9.87%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.017%. The low yield was 1.950%.

Tenders totaled $71,384,627,300 and the Treasury accepted $29,000,000,900 including $15,027,300 non-competitive.

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

The notes are dated Sept. 30 and are due Sept. 30, 2020.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.