The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.340% yield and a price of 99.821248.

The bid-to-cover ratio was 3.69%. Tenders at the high yield were allotted 42.80%. The median yield was 0.324%. The low yield was 0.279%. Tenders totaled $129,305,598,000.

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