The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2 1/8% coupon at a 2.225% high yield, a price of 99.118448.
The bid-to-cover ratio was 2.72.
Tenders at the high yield were allotted 22.75%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.190%. The low yield was 2.120%.
Tenders totaled $57,141,244,500 and the Treasury accepted $21,000,007,000 including $37,794,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated July 15, will mature May 15, 2025.