The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.366% yield, a price of 99.654528.
The bid-to-cover ratio was 3.52.
Tenders at the high yield were allotted 98.85%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.349%. The low yield was 0.277%.
Tenders totaled $112,608,065,000 and the Treasury accepted $32,000,164,500, including $25,865,000 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, 2015.