The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 3/8% coupon at a 0.469% yield, a price of 99.813097.
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The bid-to-cover ratio was 3.20.
Tenders at the high yield were allotted 89.97%.
The median yield was 0.450%. The low yield was 0.415%.
Tenders totaled $102,388,938,000 and the Treasury accepted $32,000,113,000, including $155,010,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated March 31 and due March 31, 2016.
