The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.283% yield, a price of 99.934233.
The bid-to-cover ratio was 3.04%
Tenders at the high yield were allotted 80.95%.
The median yield was 0.271%. The low yield was 0.205%.
Tenders totaled $106,419,860,600 and the Treasury accepted $35,000,060,600, including $158,960,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated May 31 and due May 31, 2015.