The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 1/4% coupon at a 0.345% yield, a price of 99.810817.
The bid-to-cover ratio was 3.77.
Tenders at the high yield were allotted 70.75%.
The median yield was 0.329%. The low yield was 0.300%.
Tenders totaled $120,552,951,400 and the Treasury accepted $32,000,156,400, including $108,951,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated December 31 and due December 31, 2015.
