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%.

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