The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 5/8% coupon at a 0.673% yield and a price of 99.905047. The bid-to-cover ratio was 3.06%. Tenders at the high yield were allotted 79.79%.
The median yield was 0.640%. The low yield was 0.577%. Tenders totaled $106,975,052,000 and the Treasury accepted $35,000,067,300, including $310,702,000 of noncompetitive.