The Treasury Department auctioned $35 billion of five-year notes, with a 5/8% coupon, a 0.710% high yield, a price of 99.583182.
The bid-to-cover ratio was 2.86.
Tenders at the high yield were allotted 23.49%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.678%. The low yield was 0.628%.
Tenders totaled $99,987,332,800 and the Treasury accepted $35,000,013,600 including $18,732,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated April 30, will mature April 30, 2018.