The Treasury Department Monday auctioned $26 billion of two-year notes with a 7/8% coupon at a 0.948% yield, a price of 99.855714.
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The bid-to-cover ratio was 3.15.
Tenders at the high yield were allotted 53.98%.
The median yield was 0.910%. The low yield was 0.850%.
Tenders totaled $81,997,623,800 and the Treasury accepted $26,000,028,800, including $162,823,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Nov. 30 and due Nov. 30, 2017.
