The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.377% yield, a price of 99.994122.
The bid-to-cover ratio was 2.83. Tenders at the high yield were allotted 26.75%. The median yield was 1.307%. The low yield was 1.200%.
Tenders totaled $113,215,514,800 and the Treasury accepted $40,000,014,800, including $156,714,800 of noncompetitive.
The Federal Reserve banks also bought $4,491,922,600 for their own account in exchange for maturing securities.
TThe reasury also auctioned $26 billion of one-year bills at a 0.320% high yield, a price of 99.676444.
The coupon equivalent was 0.325%. The bid-to-cover ratio was 3.65. Tenders at the high rate were allotted 89.79%. The median yield was 0.300%. The low yield was 0.255%.
