The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.288% yield, a price of 99.924273.
The bid-to-cover ratio was 3.77%
Tenders at the high yield were allotted 13.41%.
The median yield was 0.269%. The low yield was 0.225%.
Tenders totaled $131,783,486,200 and the Treasury accepted $35,000,111,200, including $167,386,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Jan. 31 and due Jan. 31, 2015.
