The Treasury Department auctioned $28 billion of seven-year notes, with a 2% coupon and a 2.060% high yield, a price of 99.610738.

The bid-to-cover ratio was 2.54.

Bloomberg News

Tenders at the high yield were allotted 74.08%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.010%. The low yield was 1.888%.

Tenders totaled $74,508,769,400 and the Treasury accepted $31,368,553,400 including $9,000,000 non-competitive.

The Fed banks bought $3,368,513,400 for their own account.

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

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