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%.
Tenders totaled $44,891,852,900 and the Treasury accepted $18,000,057,700, including $20,452,900 of noncompetitive.
Federal Reserve banks bought $286,142,800 for their own account in exchange for maturing securities.
The notes, which are dated Feb. 15, will mature Feb. 15, 2019.
