The Treasury Department auctioned $35 billion of five-year notes, with a 1 1/4% coupon, a 1.300% high yield, a price of 99.758710.

The bid-to-cover ratio was 2.65.

Tenders at the high yield were allotted 75.35%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.267%. The low yield was 1.200%.

Tenders totaled $92,668,636,100 and the Treasury accepted $35,000,017,300 including $23,136,100 non-competitive.

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

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

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