The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1.25% coupon at a 1.255% yield, a price of 99.985324.
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The bid-to-cover ratio was 3.14.
Tenders at the high yield were allotted 48.33%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.220%. The low yield was 1.100%.
Tenders totaled $75,351,126,900 and the Treasury accepted $24,000,024,400, including $80,201,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Dec. 15, will mature Dec. 15, 2018.
