The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 7/8% coupon at a 1.932% high yield, a price of 99. 834636.

Bloomberg News

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

The median yield was 1.890%. The low yield was 1.688%. The bid-to-cover ratio was 3.15.

Tenders at the high yield were allotted 71.27%. All competitive tenders at lower yields were accepted in full.

Tenders totaled $75,582,119,500 and the Treasury accepted $24,000,009,500, including $53,819,500 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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