The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.255% yield, a price of 99.990045.
The bid-to-cover ratio was 3.27%
Tenders at the high yield were allotted 90.28%.
The median yield was 0.244%. The low yield was 0.199%.
Tenders totaled $114,433,705,100 and the Treasury accepted $35,000,303,100, including $166,205,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Apr. 01 and due Mar. 31, 2015.