The Treasury Department yesterday auctioned $36 billion of two-year notes with a 1 1/4% coupon at a 1.269% yield, a price of 99.962624.

The bid-to-cover ratio was 2.08. Tenders at the high yield were allotted 21.59%. The median yield was 1.185%. The low yield was 1.034%. Tenders totaled $74,834,446,700 and the Treasury accepted $36,000,011,700, including $431,446,700 of noncompetitive.

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