The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 3/8% coupon at a 0.385% yield, a price of 99.970201.
The bid-to-cover ratio was 3.62.
Tenders at the high yield were allotted 5.51%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.370%. The low yield was 0.300%.
Tenders totaled $115,944,522,100 and the Treasury accepted $32,000,047,100, including $30,122,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Jan. 15, will mature Jan. 15, 2016.