The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.496% high yield, a price of 99.419442.
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The bid-to-cover ratio was 2.44.
Tenders at the high yield were allotted 7.08%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.439%. The low yield was 1.300%.
Tenders totaled $85,340,852,200 and the Treasury accepted $35,000,022,200 including $50,482,200 non-competitive.
The Fed banks bought $637,145,100 for their own account in exchange for maturing securities.
The notes, which are dated Jan. 31, will mature Jan. 31, 2021.
