NEW YORK - The Treasury Department today auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.281% yield, a price of 99.938217.
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The bid-to-cover ratio was 3.64%
Tenders at the high yield were allotted 10.48%.
The median yield was 0.265%. The low yield was 0.210%.
Tenders totaled $127,420,445,900 and the Treasury accepted $35,000,005,900, including $198,445,900 non-competitive.
The Fed banks also bought $1,330,744,800 for their own account in exchange for maturing securities.
The two-year notes are dated Oct. 31 and due Oct. 31, 2013.
