The Treasury Department yesterday auctioned $42 billion of five-year notes, with a 2 1/2% coupon, a 2.605% high yield, a price of 99.510730.
The bid-to-cover ratio was 2.55. Tenders at the high yield were allotted 29.97%. The median yield was 2.539%. The low yield was 2.450%.
Tenders totaled $107,224,523,600 and the Treasury accepted $42,000,034,600, including $120,693,600 of noncompetitive.
The Federal Reserve banks bought $1,420,739,300 for their own account in exchange for maturing securities.
The notes, which are dated March 31, will mature March 31, 2015.
