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.
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.