The Treasury Department auctioned $35 billion of five-year notes, with a 1 5/8% coupon, a 1.710% high yield, a price of 99.594321.
The bid-to-cover ratio was 2.46.
Tenders at the high yield were allotted 3.77%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.668%. The low yield was 1.600%.
Tenders totaled $83,692,559,000 and the Treasury accepted $35,000,141,000 including $53,419,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated June 30, will mature June 30, 2020.