The Treasury Department Tuesday auctioned $31 billion of three-year notes with a 7/8% coupon at a 0.913% yield, a price of 99.887890.
The bid-to-cover ratio was 3.29.
Tenders at the high yield were allotted 73.36%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.897%. The low yield was 0.820%.
Tenders totaled $101,902,807,200 and the Treasury accepted $31,000,007,200, including $41,307,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Sept. 15, will mature Sept. 15, 2016.