The Treasury Department auctioned $35 billion of five-year notes, with a 1 1/4% coupon, a 1.288% high yield, a price of 99.816712.
The bid-to-cover ratio was 2.49.
Tenders at the high yield were allotted 16.65%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.256%. The low yield was 1.200%.
Tenders totaled $87,177,545,900 and the Treasury accepted $35,000,014,400 including $42,615,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Jan. 31, will mature Jan. 31, 2020.