Seven-year Treasury notes averaged 11.67% at auction.

The yield was down from the 12.34% average at the previous auction of seven-year Treasury notes Oct. 16. The Treasury received bids totaling $12.13 billion and accepted $5.75 billion, including $358 million of non-competitive tenders at the average yield. The average dollar price was 99.769. The coupon rate was set at 11.625%.