The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/4% coupon, a 1.785% high yield, a price of 99.833292.
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The bid-to-cover ratio was 2.32.
Tenders at the high yield were allotted 27.37%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.734%. The low yield was 1.600%.
Tenders totaled $81,062,901,600 and the Treasury accepted $35,000,019,100 including $45,901,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, which are dated Dec. 31, will mature Dec. 31, 2020.
