Treasury 3-Year Notes Go At 1.519% High Yield

The Treasury Department yesterday auctioned $35 billion of three-year notes with a 1 1/2% coupon at a 1.519% yield, a price of 99.944485.

The bid-to-cover ratio was 26.16.

Tenders at the high yield were allotted 76.31%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.430%. The low yield was 1.370%.

Tenders totaled $91,499,465,000 and the Treasury accepted $34,927,421,000, including $72,642,800 of noncompetitive.

Federal Reserve banks also bought $591,644,000 for their own account in exchange for maturing securities.

The notes, dated July 15, will mature June 15, 2012.

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