The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.436% high yield, a price of 99.706706.

The bid-to-cover ratio was 2.67.

Tenders at the high yield were allotted 43.73%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.398%. The low yield was 1.300%.

Tenders totaled $93,499,692,300 and the Treasury accepted $35,000,017,300 including $32,492,300 non-competitive.

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

The notes, which are dated September 30, will mature September 30, 2018.

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