The Treasury Department yesterday auctioned $43 billion of two-year notes with a 1% coupon at a 1.034% yield, a price of 99.932870. The bid-to-cover ratio was 3.23. Tenders at the high yield were allotted 27.16%. The median yield was 0.990%. The low yield was 0.920%. Tenders totaled $138,839,628,500 and Treasury accepted $43,000,008,000, including $433,978,000 of noncompetitive.
Treasury also auctioned $27 billion of one-year bills at a 0.405% high yield, a price of 99.590500. The coupon equivalent was 0.412%. The bid-to-cover ratio was 3.13. Tenders at the high rate were allotted 71.84%. The median yield was 0.385%, the low yield 0.350%. Tenders totaled $84,434,722,000; Treasury accepted $27,000,011,600, including $202,722,000 of noncompetitive.
Treasury also auctioned $16 billion of four-week bills at a 0.040% high yield, a price of 99.996889. The coupon equivalent was 0.041%. The bid-to-cover ratio was 5.18. Tenders at the high rate were allotted 58.35%. The median yield was 0.010%. The low yield was zero.
Tenders totaled $82,815,927,700 and Treasury accepted $16,000,180,200, with $315,438,700 of noncompetitive.
