The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/8% coupon at a 1.230% yield, a price of 99.793189.
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The bid-to-cover ratio was 2.82.
Tenders at the high yield were allotted 9.92%.
The median yield was 1.190%. The low yield was 0.888%.
Tenders totaled $73,298,771,500 and the Treasury accepted $26,000,011,500, including $161,871,500 non-competitive.
The Fed banks bought $3,605,863,300 for their own account in exchange for maturing securities.
The two-year notes are dated Feb. 28 and due Feb. 28, 2019.
