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.

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