MBS LUNCH: 3 Year Treasury Auction Results
ByPosted To: MBS Commentary
The Treasury has successfully auctioned $40 billion 3-year notes. The high yield was 1.377%, which was 1.6 basis points lower than the 1pm "When Issued" yield. The bid to cover ratio, a measure of auction demand, was 2.83 bids submitted for every one accepted by the Treasury. The 3 year note has seen an average bid to cover of 3.01 in the last 4 auctions Issued date Feb. 16, 2010 Maturity date Feb. 15, 2013 CUSIP number 912828MN7 YIELDS High 1.377 pct Median 1.307 pct Low 1.200 pct PRICE/ACCEPTANCES Price 99.994122 Accepted at high 26.75 pct Bid-to-cover ratio 2.83 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 40,000,014,800 Total public bids tendered 113,215,514,800 Competitive bids accepted 39,793,300,000 Noncompetitive bids accepted 156,714,800 Fed add-ons 4,491,922,600…(read more)