The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.572% high yield, a price of 99.789820.
The bid-to-cover ratio was 2.76.
Tenders at the high yield were allotted 87.86%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.529%. The low yield was 1.288%.
Tenders totaled $66,225,366,200 and the Treasury accepted $24,000,016,200, including $49,666,200 non-competitive.
The Fed banks bought $7,929,035,700 for their own account in exchange for maturing securities.
The notes, dated May 15, will mature May 15, 2020.