NEW YORK - The Treasury Department today auctioned $44 billion of two-year notes with a 1% coupon at a 1.020% yield, a price of 99.960585.
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The bid-to-cover ratio was 3.63.
Tenders at the high yield were allotted 3.21%.
The median yield was 0.980%. The low yield was 0.800%.
Tenders totaled $159,875,179,800 and the Treasury accepted $44,000,466,900, including $437,129,800 non-competitive.
The Fed banks also bought $1,084,753,400 for their own account in exchange for maturing securities.
The two-year notes are dated Oct. 31 and due Oct. 31, 2011.
