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| I know very little about treasury auctions (zip nadda)
Having that out of the way, my understanding is the stated interest rate would be the same as the existing 7 year series but the price actually paid for the note would reflect the actual yield received.
This is the pdf of the actual treasury auction of the referenced 7 year note.
https://www.treasurydirect.gov/instit/annceresult/press/preanre/2023...
Relevant data (Yield _ where _ is a footnote reference)
"Interest Rate 3-3/4%
High Yield 1 3.839%
Allotted at High 53.68%
Price 99.458207
Accrued Interest per $1,000 None
Median Yield 2 3.770%
Low Yield 3 3.600%"
Note the yield achieved does not necessarily equal the stated yield
Basically if the yield is in the stated range a 7 year 3.75% note with a 6/30/2030 maturity date will be issued. The price paid for the note would reflect the actual yield realized. | |
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Another treasury deal I’ve never seen
