The Treasury announced the terms of next week's two- and five-year note auctions yesterday.

Similarly, the five-year note auction last month was also poor.

Concern that the five-year note auction might not go well also pushed prices lower.

The issue followed a $15 billion five-year note auction on Tuesday.

Investors later turned their focus to the five-year note auction.

The following are the results of yesterday's five-year note auction:

The new bidding system will be used for a year in the two- and five-year note auctions.

The 4.87 percent yield at the five-year note auction was the lowest ever.

However, foreign bidding at today's five-year note auction, particularly from Japanese investors, is expected to be heavy.

The success of the Treasury's five-year note auction also helped.