Treasury 2-Year Notes Auctioned at 1.261% High Yield

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/4% coupon at a 1.261% yield, a price of 99.978342.

The bid-to-cover ratio was 2.73.

Tenders at the high yield were allotted 85.23%.

The median yield was 1.200%. The low yield was 1.140%.

Tenders totaled $70,889,420,800 and the Treasury accepted $26,000,033,300, including $165,320,800 non-competitive.

The Fed banks bought $3,147,708,100 for their own account in exchange for maturing securities.

The two-year notes are dated March 31 and due March 31, 2019.

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