The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.520% high yield, a price of 99.941564.

The bid-to-cover ratio was 3.13.

Treasury building.
Treasury building.

Tenders at the high yield were allotted 20.36%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.479%. The low yield was 1.188%.

Tenders totaled $75,139,211,100 and the Treasury accepted $24,000,007,100, including $49,821,100 non-competitive.

The Fed banks bought $7,221,290,400 for their own account in exchange for maturing securities.

The notes, dated Aug. 15, will mature Aug. 15, 2020.

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