The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 7/8% coupon at a 0.920% yield, a price of 99.911026.
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The bid-to-cover ratio was 3.0.
Tenders at the high yield were allotted 84.57%.
The median yield was 0.900%. The low yield was 0.800%.
Tenders totaled $78,068,830,100 and the Treasury accepted $26,000,009,100, including $207,242,100 non-competitive.
The Fed banks bought $6,630,728,300 for their own account in exchange for maturing securities.
The two-year notes are dated May 31 and due May 31, 2018.
