The Treasury Department Monday auctioned $24 billion of three-year notes with a 7/8% coupon at a 0.947% high yield, a price of 99.787535.
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The bid-to-cover ratio was 2.77.
Tenders at the high yield were allotted 34.98%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.919%. The low yield was 0.800%.
Tenders totaled $66,550,139,100 and the Treasury accepted $24,000,039,100, including $48,039,100 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, 2019.
