The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 5/8% coupon at a 1.630% high yield, a price of 99.985419.
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The bid-to-cover ratio was 2.74.
Tenders at the high yield were allotted 17.70%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.570%. The low yield was 1.500%.
Tenders totaled $65,770,438,000 and the Treasury accepted $24,000,028,000, including $61,238,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated March 15, will mature March 15, 2020.
