Treasury 2-Year Notes Go at 0.280% High Yield

The Treasury Department Monday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.280% yield and a price of 99.940209.

The bid-to-cover ratio was 4.07% Tenders at the high yield were allotted 8.48%. The median yield was 0.250%. The low yield was 0.206%.

Tenders totaled $142,490,683,200 and the Treasury accepted $35,000,243,200, including $173,183,200 of noncompetitive.

Federal Reserve banks also bought $1,585,824,100 for their own account in exchange for maturing securities.

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