The Treasury Department auctioned $35 billion of five-year notes, with a 1% coupon, a 1.045% high yield, a price of 99.781333.

The bid-to-cover ratio was 2.79.

Tenders at the high yield were allotted 33.13%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.010%. The low yield was 0.951%.

Tenders totaled $97,748,628,900 and the Treasury accepted $35,000,033,000 including $34,878,900 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

The notes, which are dated May 31, will mature May 31, 2018.

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