The Treasury Department Tuesday auctioned $33 billion of two-year notes with a 1/4% coupon at a 0.348% yield, a price of 99.804850.
The bid-to-cover ratio was 3.09.
Tenders at the high yield were allotted 49.47%.
The median yield was 0.330%. The low yield was 0.289%.
Tenders totaled $101,981,417,200 and the Treasury accepted $33,000,096,200, including $171,117,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated September 30 and due September 30, 2015.
