The Treasury Department Tuesday auctioned $27 billion of three-year notes with a 7/8% coupon at a 0.994% yield, a price of 99.649129.
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The bid-to-cover ratio was 3.42.
Tenders at the high yield were allotted 73.69%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.975%. The low yield was 0.890%.
Tenders totaled $92,418,952,800 and the Treasury accepted $27,000,033,800, including $60,352,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Oct. 15, will mature Oct. 15, 2017.
