The Treasury Department Monday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.257% yield, a price of 99.986045.
The bid-to-cover ratio was 3.33%
Tenders at the high yield were allotted 74.46%.
The median yield was 0.249%. The low yield was 0.199%.
Tenders totaled $116,463,818,300 and the Treasury accepted $35,000,121,300, including $154,473,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Feb. 28 and due Feb. 28, 2015.
