The Treasury Department Tuesday auctioned $30 billion of three-year notes with a 5/8% coupon at a 0.644% yield, a price of 99.943637.
The bid-to-cover ratio was 3.46.
Tenders at the high yield were allotted 85.86%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.621%. The low yield was 0.550%.
Tenders totaled $103,672,881,800 and the Treasury accepted $30,000,106,800, including $32,881,800 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, 2016.