The Treasury Department auctioned $34 billion of five-year notes, with a 1 7/8% coupon, a 1.911% high yield, a price of 99.829191.

The bid-to-cover ratio was 2.52.

Tenders at the high yield were allotted 56.36%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.865%. The low yield was 1.771%.

Tenders totaled $85,550,072,300 and the Treasury accepted $34,000,052,300 including $103,874,300 non-competitive.

The Fed banks bought $4,229,380,200 for their own account.

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

Bloomberg News

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