The Treasury Department Wednesday auctioned $35 billion of five-year notes, with a 1% coupon, a 1.029% high yield and a price of 99.859020.
The bid-to-cover ratio was 2.71.
Tenders at the high yield were allotted 9.30%. The median yield was 0.979%. The low yield was 0.882%.
Tenders totaled $94,936,661,400 and the Treasury accepted $35,000,026,400, including $56,511,400 of noncompetitive. Federal Reserve banks bought $1,070,488,400 for their own account in exchange for maturing securities.
The notes, which are dated Aug. 31, will mature Aug. 31, 2016.