The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 5/8% coupon at a 0.692% yield, a price of 99.867151.
The bid-to-cover ratio was 3.40.
Tenders at the high yield were allotted 44.51%.
The median yield was 0.660%. The low yield was 0.600%.
Tenders totaled $85,171,926,500 and the Treasury accepted $26,000,006,500, including $141,346,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated June 30 and due June 30, 2017.
