The Treasury Department yesterday sold $16 billion five-year notes, dated Feb. 29 and due Feb. 28, 2013, at a 2.755% high tender rate.

The bid to cover ratio was 2.81. The coupon was 2.750%. The price was 99.976794. The low bid was 2.690%. The median bid was 2.734%. Tenders at 2.755% were allotted 66.26%.

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