NEW YORK - The Treasury Department today auctioned $44 billion of two-year notes with a 7/8% coupon at a 0.895% yield, a price of 99.960486.
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The bid-to-cover ratio was 3.33.
Tenders at the high yield were allotted 14.79%.
The median yield was 0.865%. The low yield was 0.800%.
Tenders totaled $146,571,172,800 and the Treasury accepted $44,000,005,300, including $391,172,800 non-competitive.
The Fed banks also bought $1,081,378,100 for their own account in exchange for maturing securities.
The two-year notes are dated Feb. 28 and due Feb. 29, 2012.
