The Treasury Department Thursday auctioned $18 billion of nine-year, 10-month notes with a 2 3/4% coupon at a 2.950% high yield, a price of 98.298568. The bid-to-cover ratio was 2.49.
Tenders at the high yield were allotted 33.44%. All competitive tenders at lower yields were accepted in full. The median yield was 2.879%. The low yield was 2.550%.