NEW YORK - The Treasury Department today auctioned $38 billion of three-year notes with a 1 3/8% coupon at a 1.414% yield, a price of 99.885991.
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The bid-to-cover ratio was 3.27.
Tenders at the high yield were allotted 22.27%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.370%. The low yield was 1.307%.
Tenders totaled $124,116,850,000 and the Treasury accepted $38,000,030,000, including $226,150,000 non-competitive.
The Fed banks also bought $3,311,833,500 for their own account in exchange for maturing securities.
The notes, dated May 15, will mature May 15, 2013.
