Treasury Auctions $30 Billion Worth Of Three-Year Notes

(RTTNews) - The Treasury Department sold $30 billion worth of three-year notes on Tuesday, kicking off this week's series of long-term securities auction.

The three-year note auction drew a high yield of 0.644 percent and a bid-to-cover ratio of 3.46.

Last month, the Treasury also sold $30 billion worth of three-year notes, drawing a high yield of 0.710 percent and a bid-to-cover ratio of 3.05.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous three-year note auctions had a bid-to-cover ratio of 3.32.

Following today's three-year note auction, the Treasury is due to sell $24 billion worth of ten-year notes on Wednesday and $16 billion worth of thirty-year bonds on Thursday.