The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/2% coupon at a 0.544% yield and a price of 99.869476.
The bid-to-cover ratio was 3.30.
Tenders at the high yield were allotted 31.18%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.500%. The low yield was 0.410%.
Tenders totaled $105,629,416,000 and the Treasury accepted $32,000,010,200, including $28,316,000 of noncompetitive.
The notes, dated Oct. 15, will mature Oct. 15, 2014.
Meanwhile, tender rates for the Treasury’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.015% high rate, down from 0.020% the previous week, and the six-months incurred a 0.045% high rate, off from 0.060%.
Coupon equivalents were 0.015% and 0.046%, respectively. The price for the 91s was 99.996208 and that for the 182s was 99.977250.
The median bid on the 91s was 0.005%. The low bid was zero. Tenders at the high rate were allotted 21.52%. The bid-to-cover ratio was 5.15. Tenders totaled $149,364,010,900 and the Treasury accepted $29,001,146,900, including $876,075,900 of noncompetitive.
The median bid for the 182s was 0.035%. The low bid was 0.015%. Tenders at the high rate were allotted 7.90%. The bid-to-cover ratio was 4.73. Tenders totaled $127,617,553,300 and the Treasury accepted $27,000,023,300, including $726,528,300 of noncompetitive.
