The Treasury Department Monday auctioned $26 billion of two-year notes with a 1/2% coupon at a 0.540% yield, a price of 99.920537.
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The bid-to-cover ratio was 3.30.
Tenders at the high yield were allotted 81.74%.
The median yield was 0.505%. The low yield was 0.450%.
Tenders totaled $85,803,175,600 and the Treasury accepted $26,000,073,800, including $167,025,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated April 30 and due April 30, 2017.
