The Treasury Department yesterday auctioned $34 billion of two-year notes with a 2% coupon at a 2.115% yield, a price of 99.775954.

The bid-to-cover ratio was 2.21. Tenders at the high yield were allotted 15.68%. The median yield was 2.050%. The low yield was 1.990%. Tenders totaled $75,242,953,300 and Treasury accepted $34,000,033,300, including $645,328,300 of noncompetitive.

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