The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/8% coupon at a 0.222% yield, a price of 99.806537.
The bid-to-cover ratio was 3.44%. Tenders at the high yield were allotted 73.87%. The median yield was 0.209%. The low yield was 0.147%. Tenders totaled $120,475,247,900 and the Treasury accepted $35,000,077,900, including $147,747,900 of noncompetitive.
The Treasury also auctioned $25 billion of 364-day bills at a 0.100% high yield, a price of 99.898889. The coupon equivalent was 0.102%. The bid-to-cover ratio was 4.26.
Tenders at the high rate were allotted 94.79%. The median yield was 0.090%. The low yield was 0.070%.
