Treasury 5-Year Notes Go At 2.470% High Yield

The Treasury Department yesterday auctioned $40 billion of five-year notes, with a 2 3/8% coupon, a 2.470% high yield, a price of 99.555732. The bid-to-cover ratio was 2.40.

Tenders at the high yield were allotted 39.82%. All competitive tenders at lower yields were accepted in full. The median yield was 2.390%. The low yield was 2.295%. Tenders totaled $95,981,722,600 and the Treasury accepted $40,000,029,400 including $117,122,600 non-competitive. The Federal Reserve banks bought $708,516,400 for their own account in exchange for maturing securities. The notes, which are dated Sept. 30, will mature Sept. 30, 2014.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER