NEW YORK - The Treasury Department today auctioned $35 billion of two-year notes with a 3/8% coupon at a 0.400% yield, a price of 99.950315.
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The bid-to-cover ratio was 3.43.
Tenders at the high yield were allotted 38.30%.
The median yield was 0.375%. The low yield was 0.310%.
Tenders totaled $120,220,023,400 and the Treasury accepted $35,000,048,400, including $330,523,400 non-competitive.
The Fed banks also bought $717,474,600 for their own account in exchange for maturing securities.
The two-year notes are dated October 31 and due October 31, 2012.
