The Treasury Department Tuesday auctioned $27 billion of three-year notes with a 7/8% coupon at a 0.992% yield, a price of 99.655014.
The bid-to-cover ratio was 3.38.
Tenders at the high yield were allotted 5.49%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.974%. The low yield was 0.895%.
Tenders totaled $91,274,340,300 and the Treasury accepted $27,000,025,300, including $74,140,300 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, 2017.