The Treasury Department Wednesday auctioned $35 billion of five-year notes, with a 7/8% coupon, a 0.900% high yield and a price of 99.878039.

The bid-to-cover ratio was 2.89. Tenders at the high yield were allotted 97.83%. All tenders at lower yields were accepted in full. The median yield was 0.850%. The low yield was 0.800%.

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