The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.573% high yield, a price of 99.787217.
The bid-to-cover ratio was 2.87.
Tenders at the high yield were allotted 27.83%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.529%. The low yield was 1.461%.
Tenders totaled $68,883,255,100 and the Treasury accepted $24,000,009,100, including $68,055,100 non-competitive.
The Fed banks bought $547,813,900 for their own account in exchange for maturing securities.
The notes, dated July 15, will mature July 15, 2020.
