The Treasury Department yesterday auctioned $40 billion of two-year notes with a 1 1/8% coupon at a 1.151% yield, a price of 99.948740.
The bid-to-cover ratio was 3.19. Tenders at the high yield were allotted 39.20%. The median yield was 1.119%. The low yield was 1.030%.
Tenders totaled $127,556,652,500 and the Treasury accepted $40,000,023,500, including $455,682,500 of noncompetitive. The two-year notes are dated June 30 and due June 30, 2011.
Treasury also auctioned $29 billion of four-week bills at a 0.150% high yield, a price of 99.988333.
The coupon equivalent was 0.152%. The bid-to-cover ratio was 3.35. Tenders at the high rate were allotted 39.94%. The median yield was 0.130%. The low yield was 0.050%. The bills have an issue date of June 25 and are due July 23.
Tenders totaled $97,048,693,700 and the Treasury accepted $29,000,498,700, including $330,317,700 of noncompetitive.
