The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 3/8% coupon at a 0.400% yield and a price of 99.950315. The bid-to-cover ratio was 3.43.

Tenders at the high yield were allotted 38.30%. The median yield was 0.375%.

The low yield was 0.310%.

Tenders totaled $120,220,023,400 and the Treasury accepted $35,000,048,400, including $330,523,400 of noncompetitive.

The Treasury also auctioned $22 billion of four-week bills at a 0.130% high yield, and a price of 99.989528.

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