The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.337% yield, a price of 99.741005.
The bid-to-cover ratio was 3.94.
Tenders at the high yield were allotted 5.19%. All competitive tenders at lower yields were accepted in full.
The median yield was 0.320%. The low yield was 0.256%.
Tenders totaled $125,953,478,200 and the Treasury accepted $32,000,079,000, including $30,278,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Sept. 15, will mature Sept. 15, 2015.