The Treasury Department yesterday auctioned $28 billion of three-year notes with a 1 1/8% coupon at a 1.245% yield, a price of 99.647715. The bid-to-cover ratio was 2.15.
Tenders at the high yield were allotted 64.62%. All competitive tenders at lower yields were accepted in full. The median yield was 1.149%. The low yield was 0.960%.