The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/8% coupon at a 0.245% yield, a price of 99.760733.
The bid-to-cover ratio was 3.59%
Tenders at the high yield were allotted 23.59%.
The median yield was 0.234%. The low yield was 0.186%.
Tenders totaled $125,660,800,000 and the Treasury accepted $35,000,165,000, including $122,600,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Dec. 31 and due Dec. 31, 2014.
