WASHINGTON - The Treasury Department auctioned $14 billion of five-year notes as 4 7/8s, a 4.945% high yield, a price of 99.693242.
The bid-to-cover ratio was 2.02.
Tenders at the high yield were allotted 28.67%. All competitive tenders at lower yields were accepted in full.
The median yield was 4.918%. The low yield was 4.879%.
Tenders totaled $28,325,044,000 and the Treasury accepted $14,000,069,000 including $208,544,000 non-competitive.
The Fed banks bought $3,143,182,000 for their own account in exchange for maturing securities.
The notes, which are dated May 31, will mature May 31, 2011.
