The Treasury Department yesterday auctioned $35 billion of five-year notes, with a 1 7/8% coupon, a 1.940% high yield, a price of 99.691687.
The bid-to-cover ratio was 2.22. Tenders at the high yield were allotted 73.14%. The median yield was 1.869%. The low yield was 1.740%. Tenders totaled $77,548,365,500 and the Treasury accepted $35,000,122,500, including $37,565,500 of noncompetitive.
Treasury also auctioned $20 billion of four-week bills at a 0.055% high yield, a price of 99.995722. The coupon equivalent was 0.056%. The bid-to-cover ratio was 4.08. Tenders at the high rate were allotted 43.82%. The median yield was 0.020%. The low yield was zero. Tenders totaled $81,602,548,500 and the Treasury accepted $20,000,118,500, including $300,248,500 of noncompetitive.