The Treasury Department Wednesday auctioned $26 billion of two-year notes with a 1/2% coupon at a 0.540% yield, a price of 99.920748.
The bid-to-cover ratio was 3.74.
Tenders at the high yield were allotted 75.30%.
The median yield was 0.509%. The low yield was 0.479%.
Tenders totaled $97,217,771,200 and the Treasury accepted $26,000,071,200, including $166,771,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Jan. 31 and due Jan. 31, 2017.
