The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 3/8% coupon at a 0.447% yield, a price of 99.856801.
The bid-to-cover ratio was 3.35.
Tenders at the high yield were allotted 49.77%.
The median yield was 0.435%. The low yield was 0.379%.
Tenders totaled $107,043,583,700 and the Treasury accepted $32,000,473,700, including $140,283,700 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, 2016.
