The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/8% coupon at a 0.233% yield, a price of 99.784628.
The bid-to-cover ratio was 3.63%
Tenders at the high yield were allotted 3.83%.
The median yield was 0.220%. The low yield was 0.164%.
Tenders totaled $126,989,409,200 and the Treasury accepted $35,000,209,200, including $141,809,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated April 30 and due April 30, 2015.