The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 3/8% coupon at a 1.395% yield, a price of 99.960688.

The bid-to-cover ratio was 3.06.

Bloomberg

Tenders at the high yield were allotted 78.21%.

The median yield was 1.340%. The low yield was 1.188%.

Tenders totaled $79,484,088,900 and the Treasury accepted $26,000,020,400, including $183,283,900 non-competitive.

The Fed banks bought $2,643,540,300 for their own account in exchange for maturing securities.

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

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