The Treasury Department yesterday auctioned $37 billion of three-year notes with a 1 3/4% coupon at a 1.780% yield, a price of 99.912808.
The bid-to-cover ratio was 2.89. Tenders at the high yield were allotted 13.08%. The median yield was 1.727%. The low yield was 1.600%. Tenders totaled $106,991,836,100 and the Treasury accepted $37,000,046,100, including $204,836,100 of noncompetitive.
Treasury also auctioned $35 billion of four-week bills at a 0.150% high yield, a price of 99.988333. The coupon equivalent was 0.152%. The bid-to-cover ratio was 3.41. Tenders at the high rate were allotted 8.57%. The median yield was 0.135%. The low yield was zero.
Tenders totaled $119,317,314,000 and the Treasury accepted $35,000,674,000, including $286,662,000 of noncompetitive.
