The Treasury Department Tuesday auctioned $29 billion of two-year notes with a 1/2% coupon at a 0.544% yield, a price of 99.912595.
The bid-to-cover ratio was 3.24.
Tenders at the high yield were allotted 78.18%.
The median yield was 0.525%. The low yield was 0.489%.
Tenders totaled $93,115,000,000 and the Treasury accepted $28,731,000,000, including $169,000,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated July 31 and due July 31, 2016.
