The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 5/8% coupon at a 0.745% yield and a price of 99.762218.

The bid-to-cover ratio was 3.03%. Tenders at the high yield were allotted 50.16%. The median yield was 0.714%. The low yield was 0.650%.

Tenders totaled $106,204,316,000 and the Treasury accepted $35,000,036,000, including $323,316,000 of noncompetitive.

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