US sells $24B 3-year note at high yield of 1.75%. Highest yield since April 2010

24 billion three-year notes sold by U.S. TreasuryThe US has sold 24 billion of three-year notes at a yield of 1.750%.  That is the highest yield since April 2010.

  • If you cover ratio 2.76x. That is less than the last auction at 2.83x
  • direct bidders take 9% vs 7.1% last
  • indirect bidders take 53.5% vs 54.3 last
  • US awards 37.5% of three-year notes to primary dealers
  • The last three or auction went off at 1.657%.
  • The high-yield was less than one basis point below its 1 PM when issued level

Below is a recent history of the 3-year note auctions.

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