The Treasury Department auctioned $34 billion of five-year notes, with a 1 3/4% coupon, a 1.828% high yield, a price of 99.628909.

The bid-to-cover ratio was 2.33.

Bloomberg News

Tenders at the high yield were allotted 65.21%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.770%. The low yield was 1.700%.

Tenders totaled $79,219,196,000 and the Treasury accepted $34,000,011,000 including $50,879,000 non-competitive.

The Fed banks bought $4,132,862,500 for their own account.

The notes, which are dated June 30, will mature June 30, 2022.

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