NEW YORK - The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.300% yield, a price of 99.900374.

The bid-to-cover ratio was 3.95%

Tenders at the high yield were allotted 24.43%.

The median yield was 0.286%. The low yield was 0.227%.

Tenders totaled $138,280,156,900 and the Treasury accepted $35,000,333,900, including $185,356,900 non-competitive.

The Fed banks also bought $469,340 for their own account in exchange for maturing securities.

The two-year notes are dated May 31 and due May 31, 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.