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.
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.