The Treasury Department Monday auctioned $26 billion of two-year notes with a 1% coupon at a 1.056% yield, a price of 99.889463.
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The bid-to-cover ratio was 2.80.
Tenders at the high yield were allotted 52.65%.
The median yield was 1.030%. The low yield was 0.888%.
Tenders totaled $72,698,286,200 and the Treasury accepted $26,000,086,200, including $164,186,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The two-year notes are dated Dec. 31 and due Dec. 31, 2017.
