The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.410% high yield, a price of 99.831599.
The bid-to-cover ratio was 2.46.
Tenders at the high yield were allotted 48.70%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.373%. The low yield was 1.240%.
Tenders totaled $85,995,151,100 and the Treasury accepted $35,000,080,100 including $36,041,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated July 31, will mature July 31, 2018.