Treasury 2-Year Notes Go At 0.769% High Yield

The Treasury Department yesterday auctioned $42 billion of two-year notes with a 0.75% coupon at a 0.769% yield, a price of 99.962406.

The bid-to-cover ratio was 2.93. Tenders at the high yield were allotted 91.01%. The median yield was 0.730%. The low yield was 0.660%.

Tenders totaled $123,016,409,600 and the Treasury accepted $42,000,134,600, including $484,409,600 of noncompetitive.The Fed banks also bought $912,662,600 for their own accounts in exchange for maturing securities.

Treasury also auctioned $31 billion of four-week bills at a 0.155% high yield, a price of 99.987944. The coupon equivalent was 0.157%. The bid-to-cover ratio was 3.87. Tenders at the high rate were allotted 37.71%. The median yield was 0.145% and the low yield was 0.100%.

Tenders totaled $120,069,229,300 and the Treasury accepted $31,000,655,800, including $290,478,500 of noncompetitive.  Fed banks bought $2,418,028,000 for their own accounts.

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