The Treasury Department auctioned $28 billion of seven-year notes, with a 2% coupon and a 2.084% high yield, a price of 99.455647.

The bid-to-cover ratio was 2.73.

Tenders at the high yield were allotted 11.62%. All competitive tenders at lower yields were accepted in full.

Fotolia

The median yield was 2.050%. The low yield was 1.888%.

Tenders totaled $76,521,999,000 and the Treasury accepted $28,000,004,000 including $8,347,000 non-competitive.

The Fed banks bought $3,821,581,100 for their own account.

The notes are dated April 30 and are due April 30, 2024.

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.
Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.