The Treasury Department auctioned $35 billion of five-year notes, with a 3/4% coupon, a 0.777% high yield, a price of 99.867840.
The bid-to-cover ratio was 2.85.
Tenders at the high yield were allotted 12.52%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.743%. The low yield was 0.690%.
Tenders totaled $99,703,406,500 and the Treasury accepted $35,000,014,500 including $24,011,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Feb. 28, will mature Feb. 28, 2018.