NEW YORK - The Treasury Department today auctioned $44 billion of two-year notes with a 1% coupon at a 1.089% yield, a price of 99.824397.
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The bid-to-cover ratio was 2.91.
Tenders at the high yield were allotted 59.68%.
The median yield was 1.040%. The low yield was 0.963%.
Tenders totaled $128,028,884,500 and the Treasury accepted $44,000,044,500, including $372,184,500 non-competitive.
The Fed banks also bought $1,304,048,200 for their own account in exchange for maturing securities.
The two-year notes are dated Dec. 31 and due Dec. 30, 2011.
