The Treasury Department auctioned $35 billion of five-year notes, with a 1/8 coupon, a 1.484% high yield, a price of 99.476843.

The bid-to-cover ratio was 2.45.

Tenders at the high yield were allotted 61.53%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.429%. The low yield was 1.372%.

Tenders totaled $85,667,670,700 and the Treasury accepted $35,000,000,400 including $36,010,700 non-competitive.

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

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

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