The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 7/8% coupon at a 1.922% yield, a price of 99.908366.

The bid-to-cover ratio was 2.52.

Bloomberg News

Tenders at the high yield were allotted 82.48%.

The median yield was 1.900%. The low yield was 1.800%.

Tenders totaled $65,393,926,700 and the Treasury accepted $26,000,026,700, including $172,196,700 non-competitive.

The Fed banks bought $3,398,793,000 for their own account in exchange for maturing securities.

The two-year notes are dated Dec. 31 and due Dec. 31, 2019.

Treasury also auctioned $50 billion of four-week bills at a 1.245% high yield, a price of 99.903167.

The coupon equivalent was 1.264%. The bid-to-cover ratio was 2.96.

Tenders at the high rate were allotted 92.22%. The median rate was 1.200%. The low rate was 1.180%.

The bills have an issue date of Dec. 28 and are due Jan. 25, 2018.

Tenders totaled $148,147,334,600 and the Treasury accepted $50,000,084,600, including $510,360,600 non-competitive.

The Fed banks bought nothing for their own account.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.