The Treasury Department Wednesday auctioned $35 billion of five-year notes with a 5/8% coupon, a 0.748% high yield and a price of 99.397464.

The bid-to-cover ratio was 2.99. Tenders at the high yield were allotted 95.77%. Competitive tenders at lower yields were accepted in full. The median yield was 0.700%; the low yield 0.650%.

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