NEW YORK - The Treasury Department today auctioned $40 billion of three-year notes with a 1 1/8% coupon at a 1.223% yield, a price of 99.712191.
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The bid-to-cover ratio was 2.98.
Tenders at the high yield were allotted 50.40%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.167%. The low yield was 1.030%.
Tenders totaled $119,330,104,000 and the Treasury accepted $40,000,004,000, including $74,604,000 non-competitive.
The Fed banks also bought $215,135,200 for their own account in exchange for maturing securities.
The notes, dated Dec. 15, will mature Dec. 15, 2012.
