The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 1/4% coupon at a 0.340% yield, a price of 99.820762.
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The bid-to-cover ratio was 3.60.
Tenders at the high yield were allotted 96.03%.
The median yield was 0.320%. The low yield was 0.288%.
Tenders totaled $115,353,133,300 and the Treasury accepted $32,000,198,400, including $157,202,300 non-competitive.
The Fed banks bought $89,897,700 for their own account in exchange for maturing securities.
The two-year notes are dated February 28 and due February 29, 2016.
