The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 3/4% coupon at a 0.752% yield, a price of 99.996037.
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The bid-to-cover ratio was 2.91.
Tenders at the high yield were allotted 7.46%.
The median yield was 0.710%. The low yield was 0.660%.
Tenders totaled $75,577,824,800 and the Treasury accepted $26,000,024,800, including $172,235,600 non-competitive.
The Fed banks bought $8,713,837,300 for their own account in exchange for maturing securities.
The two-year notes are dated Feb. 29 and due Feb. 28, 2018.
