The U.S. Treasury Department issued $42 billion in 10-year Treasury notes with a winning yield of 4.255%.

The bid-to-cover ratio was 2.35x, compared to 2.61x in the previous auction.

Primary dealers were awarded 16.2% of the offering, up from 10.9% in the previous auction.

Direct bidders received 19.6% of the allocation, down from 23.7% previously.

Indirect bidders were allocated 64.2%, compared to 65.4% in the prior auction.