The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 3/8% coupon at a 1.462% yield, a price of 99.829541.

The bid-to-cover ratio was 2.88.

Tenders at the high yield were allotted 45.60%.

The median yield was 1.439%. The low yield was 1.345%.

Tenders totaled $74,870,459,600 and the Treasury accepted $26,000,259,600, including $118,659,600 non-competitive.

The Fed banks bought $3,234,231,900 for their own account in exchange for maturing securities.

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

Treasury building.
Treasury building.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.