The Treasury Department Monday auctioned $24 billion of three-year notes with a 1 3/8% coupon at a 1.433% high yield, a price of 99.830281.
The bid-to-cover ratio was 2.70.
Carol M. Highsmith: Photographer
Tenders at the high yield were allotted 87.71%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.380%. The low yield was 1.188%.
Tenders totaled $64,883,398,300 and the Treasury accepted $24,000,020,800, including $47,698,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Sept. 15, will mature Sept. 15, 2020.
