The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.362% yield, a price of 99.666118.

The bid-to-cover ratio was 3.65. Tenders at the high yield were allotted 66.17%. All competitive tenders at lower yields were accepted in full. The median yield was 0.340%. The low yield was 0.272%.

Tenders totaled $116,861,657,600 and the Treasury accepted $32,000,175,100, including $35,557,600 of noncompetitive. The Treasury also auctioned $30 billion of four-week bills at a 0.075% high yield, a price of 99.994167.

The coupon equivalent was 0.076%. The bid-to-cover ratio was 5.05. Tenders at the high rate were allotted 60.58%. The median yield was 0.070%. The low yield was 0.060%. Tenders totaled $151,388,143,100 and the Treasury accepted $30,000,523,500, including $200,990,900 of noncompetitive.

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