The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/8% coupon at a 1.210% yield, a price of 99.832540.
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The bid-to-cover ratio was 2.68.
Tenders at the high yield were allotted 62.71%.
The median yield was 1.150%. The low yield was 0.888%.
Tenders totaled $69,736,708,800 and the Treasury accepted $26,000,079,800, including $153,408,800 non-competitive.
The Fed banks bought $1,648,772,700 for their own account in exchange for maturing securities.
The two-year notes are dated Jan. 31 and due Jan. 31, 2019.
