The Treasury Department Tuesday auctioned $33 billion of three-year notes with a 3/4% coupon at a 0.790% yield and a price of 99.881642.

The bid-to-cover ratio was 3.21. Tenders at the high yield were allotted 25.34%. All competitive tenders at lower yields were accepted in full. The median yield was 0.746%. The low yield was 0.691%.

Tenders totaled $106,042,362,000 and the Treasury accepted $33,000,124,800, including $38,912,000 of noncompetitive. Federal Reserve Banks also bought $357 million for their own account in exchange for maturing securities.

The notes, dated Sept. 15, will mature Sept. 15, 2013.

Meanwhile, tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.135% high rate, down from 0.145% the previous week, and the six-months incurred a 0.180% high rate, up from 0.190%. Coupon equivalents were 0.137% and 0.183%, respectively. The price for the 91s was 99.965875 and that for the 182s was 99.909000.

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