The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.310% yield and a price of 99.880464.

The bid-to-cover ratio was 3.54%. Tenders at the high yield were allotted 79.09%. The median yield was 0.290%. The low yield was 0.220%. Tenders totaled $123,925,002,800 and the Treasury accepted $35,000,142,800, including $167,593,800 of noncompetitive.

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