The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 7/8% coupon at a 0.877% yield, a price of 99.996043.
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The bid-to-cover ratio was 2.58.
Tenders at the high yield were allotted 49.48%.
The median yield was 0.830%. The low yield was 0.800%.
Tenders totaled $67,028,874,900 and the Treasury accepted $26,000,004,900, including $170,233,900 non-competitive.
The Fed banks bought $6,194,612,100 for their own account in exchange for maturing securities.
The two-year notes are dated March 31 and due March 31, 2018.
