The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/4% coupon at a 1.348% yield, a price of 99.807259.

The bid-to-cover ratio was 3.03.

Tenders at the high yield were allotted 14.88%.

Bloomberg News

The median yield was 1.300%. The low yield was 1.188%.

Tenders totaled $78,804,639,300 and the Treasury accepted $26,000,079,300, including $176,234,400 non-competitive.

The Fed banks bought $3,160,424,300 for their own account in exchange for maturing securities.

The two-year notes are dated June 30 and due June 30, 2019.

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