NEW YORK - The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.270% yield, a price of 99.960135.

The bid-to-cover ratio was 3.76%

Tenders at the high yield were allotted 99.89%.

The median yield was 0.250%. The low yield was 0.207%.

Tenders totaled $131,588,443,700 and the Treasury accepted $35,000,135,000, including $162,743,700 non-competitive.

The Fed banks also bought $940,358,300 for their own account in exchange for maturing securities.

The two-year notes are dated April 30 and due April 30, 2014.

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.