The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 5/8% coupon at a 0.745% yield, a price of 99.762218.
The bid-to-cover ratio was 2.72.
Tenders at the high yield were allotted 57.37%.
The median yield was 0.700%. The low yield was 0.388%.
Tenders totaled $70,678,885,400 and the Treasury accepted $26,000,065,400, including $138,285,400 non-competitive.
The Fed banks bought $3,792,895,400 for their own account in exchange for maturing securities.
The two-year notes are dated June 30 and due June 30, 2018.
