The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 3/8% coupon at a 1.472% high yield, a price of 99.716805.
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The bid-to-cover ratio was 2.97.
Tenders at the high yield were allotted 86.68%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.430%. The low yield was 1.350%.
Tenders totaled $71,243,611,300 and the Treasury accepted $24,000,087,300, including $52,061,300 non-competitive.
The Fed banks bought $1,329,851,600 for their own account in exchange for maturing securities.
The notes, dated Jan. 15, will mature Jan. 15, 2020.
