The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/2% coupon at a 1.596% yield, a price of 99.811770.
The bid-to-cover ratio was 2.74.
Tenders at the high yield were allotted 82.65%.
The median yield was 1.550%. The low yield was 1.480%.
Tenders totaled $71,247,270,200 and the Treasury accepted $26,000,080,200, including $129,470,200 non-competitive.
The Fed banks bought $650,356,100 for their own account in exchange for maturing securities.
The two-year notes are dated Oct. 31 and due Oct. 31, 2019.