The Treasury Department Thursday auctioned $29 billion of seven-year notes, with a 1 1/2% coupon, a 1.580% high yield and a price of 99.471828.

The bid-to-cover ratio was 2.76.

Tenders at the high yield were allotted 79.88%. All competitive tenders at lower yields were accepted in full. The median yield was 1.529%. The low yield was 1.449%.

Tenders totaled $80,000,413,600 and the Treasury accepted $29,000,008,800, including $28,913,600 of noncompetitive. Federal Reserve banks bought $886,976,100 for their own account in exchange for maturing securities.

The notes are dated Aug. 31 and are due Aug. 31, 2018.

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