The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 5/8% coupon at a 0.631% yield, a price of 99.982197.
The bid-to-cover ratio was 3.21.
Tenders at the high yield were allotted 90.49%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.614%. The low yield was 0.561%.
Tenders totaled $102,851,826,900 and the Treasury accepted $32,000,011,900, including $39,626,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Aug. 15, will mature Aug. 15, 2016.