The Treasury Department Tuesday auctioned $28 billion of three-year notes with a 7/8% coupon at a 0.930% yield, a price of 99.837787.
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The bid-to-cover ratio was 3.41.
Tenders at the high yield were allotted 9.97%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.905%. The low yield was 0.830%.
Tenders totaled $95,597,178,400 and the Treasury accepted $28,000,115,900, including $47,778,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated June 15, will mature June 15, 2017.
