NEW YORK - The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/4% coupon at a 1.776% yield, a price of 99.924368.
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The bid-to-cover ratio was 3.10.
Tenders at the high yield were allotted 44.71%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.720%. The low yield was 1.670%.
Tenders totaled $123,957,400,100 and the Treasury accepted $39,941,588,000, including $58,414,700 non-competitive.
The Fed banks also bought $2,928,158,500 for their own account in exchange for maturing securities.
The notes, dated April 15, will mature April 15, 2013.
