The Treasury Department Wednesday auctioned $35 billion of five-year notes with a 1% coupon, a 1.055% high yield and a price of 99.732813.

The bid-to-cover ratio was 2.90.

Tenders at the high yield were allotted 57.79%. All competitive tenders at lower yields were accepted in full. The median yield was 1.029%. The low yield was 0.975%.

Tenders totaled $101,457,846,600 and the Treasury accepted $35,000,052,200, including $28,646,600 of noncompetitive. Federal Reserve banks bought $1,330,744,700 for their own accounts in exchange for maturing securities.

The notes, which are dated Oct. 31, will mature Oct. 31, 2016.

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