The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 3/8% coupon at a 0.392% yield, a price of 99.949348.
The bid-to-cover ratio was 3.41.
Tenders at the high yield were allotted 82.78%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.377%. The low yield was 0.303%.
Tenders totaled $109,217,289,300 and the Treasury accepted $32,000,089,300, including $44,989,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Nov. 15, will mature Nov. 15, 2015.