The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 7/8% coupon at a 0.875% yield, a price of 99.999989.
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The bid-to-cover ratio was 2.93.
Tenders at the high yield were allotted 72.78%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.845%. The low yield was 0.750%.
Tenders totaled $70,403,191,800 and the Treasury accepted $24,000,041,800, including $69,141,800 non-competitive.
The Fed banks bought $5,427,606,600 for their own account in exchange for maturing securities.
The notes, dated May 15, will mature May 15, 2019.
