NEW YORK - The Treasury Department today auctioned $35 billion of two-year notes with a 1/2% coupon at a 0.560% yield, a price of 99.880835.
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The bid-to-cover ratio was 3.46%
Tenders at the high yield were allotted 89.70%.
The median yield was 0.540%. The low yield was 0.470%.
Tenders totaled $121,202,341,300 and the Treasury accepted $35,000,042,300, including $148,731,300 non-competitive.
The Fed banks also bought $2,945,904,300 for their own account in exchange for maturing securities.
The two-year notes are dated May 31 and due May 31, 2013.
