The Treasury Department yesterday auctioned $36 billion of three-year notes with a 1 1/8% coupon at a 1.220% yield, a price of 99.720987.
The bid-to-cover ratio was 3.23. Tenders at the high yield were allotted 58.71%. The median yield was 1.189%. The low yield was 1.098%. Tenders totaled $116,300,611,500 and the Treasury accepted $36,000,001,500, including $76,111,500 of noncompetitive.
The Treasury also sold $31 billion of four-week bills at a 0.090% high yield , a price of 99.993000. The coupon equivalent was 0.091%. The bid-to-cover was 4.32. Tenders at the high rate were allotted 3.60%. The median yield was 0.075%.
