The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 3/8% coupon at a 0.430% yield, a price of 99.890734.
The bid-to-cover ratio was 3.05%
Tenders at the high yield were allotted 4.79%.
The median yield was 0.404%. The low yield was 0.348%.
Tenders totaled $106,889,085,900 and the Treasury accepted $35,000,095,900, including $133,180,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated June 30 and due June 30, 2015.
