The Treasury Department yesterday auctioned $32 billion of three-year notes, $23 billion of one-year bills, and $36 billion of four-week bills.

Treasury sold the three-year notes with a 1 3/8% coupon at a 1.419% yield, a price of 99.871395. The bid-to-cover ratio was 2.67. Tenders at the high yield were allotted 61.41%. The median yield was 1.373%. The low yield was 1.300%.

Tenders totaled $85,555,578,500 and the Treasury accepted $32,000,007,000, including $97,592,500 of noncompetitive.

Federal Reserve banks also bought $1,629,450,200 for their own accounts in exchange for maturing securities. The notes, dated Feb. 15, will mature Feb. 15, 2012.

Treasury sold $23 billion of one-year bills at a 0.610% high yield, a price of 99.383222. The coupon equivalent was 0.62%. The bid-to-cover ratio was 2.82.

Tenders at the high rate were allotted 85.29%. The median yield was 0.580%. The low yield was 0.525%.

The bills have an issue date of Feb. 12 and are due Feb. 11, 2010. Tenders totaled $64,849,610,500 and the Treasury accepted $23,000,310,800, including $148,610,500 of noncompetitive.

Treasury also sold $36 billion of four-week bills at a 0.250% high yield, a price of 99.980556. The coupon equivalent was 0.254%. The bid-to-cover ratio was 2.98.

Tenders at the high rate were allotted 32.20%. The median yield was 0.200%. The low yield was 0.100%.

The bills have an issue date of Feb. 12 and are due March 12. Tenders totaled $107,126,083,600 and the Treasury accepted $36,000,173,600, including $365,084,600 non-competitive.

Fed banks bought $5,937,991,000 for their own accounts in exchange for maturing securities.

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