The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.273% yield, a price of 99.954218.
The bid-to-cover ratio was 3.60%
Tenders at the high yield were allotted 20.14%.
The median yield was 0.264%. The low yield was 0.207%.
Tenders totaled $125,965,419,200 and the Treasury accepted $35,000,079,200, including $171,519,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Sept. 30 and due Sept. 30, 2014.
