The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 5/8% coupon at a 0.719% yield, a price of 99.721515.
The bid-to-cover ratio was 3.35.
Tenders at the high yield were allotted 66.85%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.695%. The low yield was 0.600%.
Tenders totaled $107,200,164,300 and the Treasury accepted $32,000,196,300, including $29,264,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated July 15, will mature July 15, 2016.