NEW YORK - The Treasury Department today auctioned $31 billion of two-year notes with a 2 3/4% coupon at a 2.820% yield, a price of 99.864799.
The bid-to-cover ratio was 2.42.
Tenders at the high yield were allotted 44.86%.
The median yield was 2.770%. The low yield was 2.740%.
Tenders totaled $75,112,911,600 and the Treasury accepted $31,000,036,600, including $823,328,600 non-competitive.
The Fed banks also bought $3,414,989,000 for their own account in exchange for maturing securities.
The two-year notes are dated July 31 and due July 31, 2010.
