The Treasury Department yesterday auctioned $44 billion of two-year notes with a 1% coupon at a 1.089% yield, a price of 99.824397.
The bid-to-cover ratio was 2.91. Tenders at the high yield were allotted 59.68%. The median yield was 1.040%. The low yield was 0.963%. Tenders totaled $128,028,884,500 and the Treasury accepted $44,000,044,500, including $372,184,500 of noncompetitive.