NEW YORK - The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.437% yield, a price of 99.818589.
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The bid-to-cover ratio was 3.13.
Tenders at the high yield were allotted 15.66%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.403%. The low yield was 1.340%.
Tenders totaled $125,069,178,000 and the Treasury accepted $40,000,016,000, including $70,478,000 non-competitive.
The Fed banks also bought $473,243,300 for their own account in exchange for maturing securities.
The notes, dated March 15, will mature March 15, 2013.
