The Treasury Department Monday auctioned $26 billion of two-year notes with a 3/4% coupon at a 0.750% yield, a price of par.
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The bid-to-cover ratio was 2.65.
Tenders at the high yield were allotted 98.65%.
The median yield was 0.725%. The low yield was 0.650%.
Tenders totaled $68,965,047,1300 and the Treasury accepted $26,000,174,600, including $174,197,100 non-competitive.
The Fed banks bought $1,584,917,700 for their own account in exchange for maturing securities.
The two-year notes are dated Sept. 30 and due Sept. 30, 2018.
