NEW YORK - The Treasury Department today auctioned $37 billion of two-year notes with a 3/8% coupon at a 0.498% yield, a price of 99.755524.
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The bid-to-cover ratio was 3.12.
Tenders at the high yield were allotted 95.59%.
The median yield was 0.480%. The low yield was 0.396%.
Tenders totaled $115,547,120,700 and the Treasury accepted $37,000,073,200, including $455,620,700 non-competitive.
The Fed banks also bought $905,909,600 for their own account in exchange for maturing securities.
The two-year notes are dated August 31 and due August 31, 2012.
