The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/4% coupon at a 1.316% yield, a price of 99.870143.

The bid-to-cover ratio was 2.90.

Bloomberg News

Tenders at the high yield were allotted 49.14%.

The median yield was 1.260%. The low yield was 0.888%.

Tenders totaled $75,495,315,600 and the Treasury accepted $26,000,042,600, including $123,580,600 non-competitive.

The Fed banks bought $3,127,905,400 for their own account in exchange for maturing securities.

The two-year notes are dated May 31 and due May 31, 2019.

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