Treasury 2-Year Notes Go At 0.738% High Yield

The Treasury Department yesterday auctioned $40 billion of two-year notes with a 5/8% coupon at a 0.738% yield, a price of 99.776070.

The bid-to-cover ratio was 3.45. Tenders at the high yield were allotted 70.18%. The median yield was 0.720%. The low yield was 0.647%. Tenders totaled $138,149,179,900 and the Treasury accepted $40,000,139,900, including $432,579,900 of noncompetitive.

The two-year notes are dated June 30 and due June 30, 2012. The Treasury yesterday auctioned $32 billion of four-week bills at a 0.085% high yield, a price of 99.993389.

The coupon equivalent was 0.086%. The bid-to-cover ratio was 3.70. Tenders at the high rate were allotted 58.75%. The median yield was 0.060%. The low yield was 0.030%. The bills have an issue date of June 24 and are due July 22.

Tenders totaled $118,303,426,200. Treasury accepted $32,000,176,200, including $279,952,200 of noncompetitive.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER