
Investing.com -- The U.S. government sold $58 billion of 3-year notes on Tuesday at a lower-than-expected yield even as demand softened.
The notes were awarded at 3.810%, just below the pre-sale, or when-issue, rate of 3.812%, and well below 4.399% high seen in the prior auction.
In a sign of a softer demand, the bid to cover ratio for the auction fell to 2.55 from 2.67 seen in the prior auction.
Direct bidders accounted for 13.70% and indirect bidders 30.4% of the bid, with dealers making up 55.9%
The 3-year notes were trading at 3.841%, up 13 basis points.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.