The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1.25% coupon at a 1.274% yield, a price of 99.938412.
The bid-to-cover ratio was 2.83.
Tenders at the high yield were allotted 22.93%. All competitive tenders at lower yields were accepted in full.
The median yield was 1.234%. The low yield was 0.888%.
Tenders totaled $67,768,407,800 and the Treasury accepted $24,000,000,300, including $75,107,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
The notes, dated Nov. 15, will mature Nov. 16, 2018.