The Treasury Wednesday auctioned $29 billion of seven-year notes with a 1 3/8% coupon, a 1.430% high yield and a price of 99.635210. The bid-to-cover ratio was 2.68.

Tenders at the high yield were allotted 74.67%. All competitive tenders at lower yields were accepted in full. The median yield was 1.359%. The low yield was 1.300%.

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