The Treasury Department auctioned $34 billion of five-year notes, with a 1 3/4% coupon, a 1.831% high yield, a price of 99.614668.

The bid-to-cover ratio was 2.67.

Bloomberg News

Tenders at the high yield were allotted 7.84%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.800%. The low yield was 1.715%.

Tenders totaled $90,945,748,200 and the Treasury accepted $34,000,012,200 including $68,154,200 non-competitive.

The Fed banks bought $4,090,337,700 for their own account.

The notes, which are dated May 31, will mature May 31, 2022.

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