The Treasury Department auctioned $34 billion of five-year notes, with a 1 7/8% coupon, a 1.884% high yield, a price of 99.957246.

The bid-to-cover ratio was 2.58.

Fotolia

Tenders at the high yield were allotted 12.57%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.840%. The low yield was 1.770%.

Tenders totaled $87,590,722,800 and the Treasury accepted $34,000,101,700 including $37,326,800 non-competitive.

The Fed banks bought $3,456,937,200 for their own account.

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

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.