The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.336% yield, a price of 99.828720.
The bid-to-cover ratio was 3.08.
Tenders at the high yield were allotted 42.14%.
The median yield was 0.315%. The low yield was 0.285%.
Tenders totaled $107,699,136,600 and the Treasury accepted $35,000,055,600, including $147,186,600 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, 2015.
