NEW YORK - The Treasury Department today auctioned $35 billion of two-year notes with a 3/8% coupon at a 0.417% yield, a price of 99.916547.
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The bid-to-cover ratio was 3.14%
Tenders at the high yield were allotted 27.89%.
The median yield was 0.395%. The low yield was 0.326%.
Tenders totaled $109,906,033,500 and the Treasury accepted $35,000,043,500, including $129,633,500 non-competitive.
The Fed banks also bought $1,042,194,000 for their own account in exchange for maturing securities.
The two-year notes are dated July 31 and due July 31, 2013.
