NEW YORK - The Treasury Department auctioned $42 billion of five-year notes, with a 2 1/4% coupon, a 2.370% high yield, a price of 99.437540.
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The bid-to-cover ratio was 2.80.
Tenders at the high yield were allotted 45.09%. All competitive tenders at lower yields were accepted in full.
The median yield was 2.320%. The low yield was 2.250%.
Tenders totaled $117,757,071,400 and the Treasury accepted $42,000,009,400 including $104,171,400 non-competitive.
The Fed banks bought $684,392,400 for their own account in exchange for maturing securities.
The notes, which are dated Jan. 31, will mature Jan. 31, 2015.
