The Treasury Department yesterday auctioned $30 billion of seven-year notes with a 2.500% coupon, a 2.575% high yield, and a price of 99.522396. The bid-to-cover ratio was 3.01. Tenders at the high yield were allotted 65.69%. The median yield was 2.530%. The low yield was 2.385%.

Tenders totaled $90,429,485,900 and Treasury accepted $30,000,011,500, including $26,385,900 of noncompetitive. Federal Reserve banks bought $868,466,600 for their own account in exchange for maturing securities. The notes are dated June 30 and due June 30, 2017.

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