Treasury 2-Year Notes Auctioned At 0.589% High Yield

The Treasury Department Tuesday auctioned $29 billion of two-year notes with a 1/2% coupon at a 0.589% yield, a price of 99.9823303.

The bid-to-cover ratio was 3.56.

Tenders at the high yield were allotted 28.59%.

The median yield was 0.570%. The low yield was 0.520%.

Tenders totaled $103,359,115,600 and the Treasury accepted $29,000,113,100, including $150,915,600 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The two-year notes are dated Sept. 30 and due Sept. 30, 2016.

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