The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 5/8% coupon at a 0.690% yield, a price of 99.871114.
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The bid-to-cover ratio was 3.42.
Tenders at the high yield were allotted 7.97%.
The median yield was 0.651%. The low yield was 0.593%.
Tenders totaled $88,875,249,100 and the Treasury accepted $26,000,064,100, including $168,249,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated July 31 and due July 31, 2017.
