The Treasury Department auctioned $29 billion of seven-year notes, with a 1 7/8% coupon, a 1.970% high yield, and a price of 99.381826.

The bid-to-cover ratio was 3.06. Tenders at the high yield were allotted 23.90%. All competitive tenders at lower yields were accepted in full. The median yield was 1.939%. The low yield was 1.860%.

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