The Treasury Department Monday auctioned $32 billion of three-year notes with a 3/8% coupon at a 0.456% yield and a price of 99.758927.

The bid-to-cover ratio was 3.44. Tenders at the high yield were allotted 94.55%. The median yield was 0.436%. The low yield was 0.358%. Tenders totaled $109,949,262,800 and the Treasury accepted $32,000,025,300, including $33,962,800 of noncompetitive.

Meanwhile, tender rates for the Treasury’s latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.095% high rate, up from 0.080% the previous week, and the six-months incurred a 0.145% high rate, up from 0.130%.

Coupon equivalents were 0.096% and 0.147%, respectively. The price for the 91s was 99.975986 and that for the 182s was 99.926694.

The median bid on the 91s was 0.080%. The low bid was 0.075%. Tenders at the high rate were allotted 61.92%. The bid-to-cover ratio was 4.83. Tenders totaled $159,331,225,100 and the Treasury accepted $33,000,065,100, including $763,080,100 of noncompetitive.

The median bid for the 182s was 0.140%. The low bid was 0.120%. Tenders at the high rate were allotted 92.74%. The bid-to-cover ratio was 5.10. Tenders totaled $158,246,167,300 and the Treasury accepted $31,001,113,300, including $628,452,300 of noncompetitive.

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