The Treasury Department auctioned $34 billion of five-year notes, with a 2 1/8% coupon, a 2.245% high yield, a price of 99.435896.

Bloomberg News

The bid-to-cover ratio was 2.36.

Tenders at the high yield were allotted 2.99%. All competitive tenders at lower yields were accepted in full.

The median yield was 2.190%. The low yield was 2.100%.

Tenders totaled $80,361,086,700 and the Treasury accepted $34,000,089,700 including $31,248,700 non-competitive.

The Fed banks bought $4,444,575,500 for their own account.

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

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