Treasury Sells $76B Of Notes and Bills

The Treasury Department yesterday auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.490% yield, a price of 99.663820.

The bid-to-cover ratio was 2.98. Tenders at the high yield were allotted 79.20%. The median yield was 1.452%. The low yield was 1.388%. Tenders totaled $119,016,271,000 and the Treasury accepted $40,000,191,000, including $81,871,000 non-competitive.

The Treasury also auctioned $26 billion of one-year bills at a 0.335% high yield, a price of 99.661278. The coupon equivalent was 0.341%.

The bid-to-cover ratio was 3.63. Tenders at the high rate were allotted 89.23%. The median yield was 0.320%. The low yield was 0.270%.

Tenders totaled $94,457,959,200. Treasury accepted $26,000,139,000, including $179,959,200 of noncompetitive.

The Treasury also auctioned $10 billion of four-week bills at a zero high yield, a price of par. The bid-to-cover ratio was 6.63. Tenders at the high rate were allotted 28.08%.

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