The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/8% coupon at a 0.220% yield, a price of 99.810521.
The bid-to-cover ratio was 4.00%
Tenders at the high yield were allotted 77.80%.
The median yield was 0.212%. The low yield was 0.167%.
Tenders totaled $140,117,063,500 and the Treasury accepted $35,000,129,500, including $205,763,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated July 31 and due July 31, 2014.
