The Treasury Department auctioned $35 billion of five-year notes, with a 1 1/2% coupon, a 1.560% high yield, a price of 99.712598.
The bid-to-cover ratio was 2.46.
Tenders at the high yield were allotted 74.00%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.520%. The low yield was 1.441%.
Tenders totaled $86,039,686,300 and the Treasury accepted $35,000,026,300 including $53,686,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated May 31, will mature May 31, 2020.