The Treasury Department yesterday auctioned $13 billion of five-year notes at a 4.818% high yield, a price of 99.701026. The bid-to-cover ratio was 2.60.
Tenders at the high yield were allotted 10.42%. All competitive tenders at lower yields were accepted in full. The median yield was 4.805%. The low yield was 4.752%.
Tenders totaled $29,270,721,000 and the Treasury accepted $13,000,002,000, including $105,651,000 of noncompetitive.
Federal Reserve banks bought $3,450,144,000 for their own account in exchange for maturing securities.
The notes, which are dated April 30, will mature April 30, 2012.
