The Treasury Department Wednesday auctioned $29 billion of seven-year notes, with a 2 7/8% coupon, a 2.895% high yield, a price of 99.874094.

The bid-to-cover ratio was 2.79. Tenders at the high yield were allotted 93.86%. The median yield was 2.825%. The low yield was 2.769%. Tenders totaled $80,950,744,400 and the Treasury accepted $29,000,001,400, including $35,344,400 non-competitive.

The Federal Reserve banks bought $1,300,514,100 for their own account.

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