NEW YORK - The Treasury Department today auctioned $40 billion of two-year notes with a 5/8% coupon at a 0.738% yield, a price of 99.776070.
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The bid-to-cover ratio was 3.45.
Tenders at the high yield were allotted 70.18%.
The median yield was 0.720%. The low yield was 0.647%.
Tenders totaled $138,149,179,900 and the Treasury accepted $40,000,139,900, including $432,579,900 non-competitive.
The Fed banks also bought $1,157,955,700 for their own account in exchange for maturing securities.
The two-year notes are dated June 30 and due June 30, 2012.
