The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1/2% coupon at a 0.603% yield, a price of 99.796087.
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The bid-to-cover ratio was 3.45.
Tenders at the high yield were allotted 14.52%.
The median yield was 0.580%. The low yield was 0.539%.
Tenders totaled $89,668,122,600 and the Treasury accepted $26,000,079,000, including $173,122,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Feb. 28 and due Feb. 28, 2017.
