NEW YORK - The Treasury Department auctioned $38 billion of five-year notes, with a 1 7/8% coupon, a 1.995% high yield, a price of 99.431646.
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The bid-to-cover ratio was 2.58.
Tenders at the high yield were allotted 18.36%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.925%. The low yield was 1. 800%.
Tenders totaled $97,966,338,300 and the Treasury accepted $38,000,104,300 including $124,038,300 non-competitive.
The Fed banks bought $1,100,057,700 for their own account in exchange for maturing securities.
The notes, which are dated June 30, will mature June 30, 2015.
