Treasury 5-Year Notes Go at 1.646% High Yield

The Treasury Department auctioned $35 billion of five-year notes, with a 1 5/8% coupon, a 1.646% high yield, a price of 99.899634.

The bid-to-cover ratio was 2.81.

Tenders at the high yield were allotted 13.63%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.611%. The low yield was 1.530%.

Tenders totaled $98,471,443,900 and the Treasury accepted $35,000,001,400 including $41,893,900 non-competitive.

The Fed banks bought $1,766,400 for their own account in exchange for maturing securities.

The notes, which are dated Aug. 31, will mature Aug. 31, 2019.

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