The Treasury Department Tuesday auctioned $35 billion of five-year notes, with a 7/8% coupon, a 0.880% high yield, and a price of 99.975602.
The bid-to-cover ratio was 2.86. Tenders at the high yield were allotted 98.48%. The median yield was 0.820%. The low yield was 0.787%.
Tenders totaled $100,089,160,600 and the Treasury accepted $35,000,012,600, including $33,250,600 of noncompetitive.
Federal Reserve banks bought $1,133,424,800 for their own accounts in exchange for maturing securities.
Meanwhile, the Treasury Tuesday also auctioned $35 billion of four-week bills at a zero high yield and a price of par.
The bid-to-cover ratio was 9.07. Tenders at the high rate were allotted 12.90%.
Tenders totaled $272,129,519,100 and the Treasury accepted $30,013,437,600, including $221,339,100 of noncompetitive.
The Fed banks bought $3,781,546,000 for their own accounts in exchange for maturing securities.
