The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.281% yield, a price of 99.938217.

The bid-to-cover ratio was 3.64%. Tenders at the high yield were allotted 10.48%. The median yield was 0.265%.

he low yield was 0.210%. Tenders totaled $127,420,445,900 and the Treasury accepted $35,000,005,900, including $198,445,900 of noncompetitive.

The Treasury also auctioned $30 billion of four-week bills at a 0.005% high yield, a price of 99.999597.

The coupon equivalent was 0.005%. The bid-to-cover ratio was 4.51. Tenders at the high rate were allotted 63.43%. The median and low yields were zero.

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