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Treasury auctions 3-year notes, sells $58 billion near 4.9% yield

The sale cleared through the WI level, with the Treasury pricing about 0.2 basis points below the WI yield.

Reported · Written up by our desk · Government Bonds

The U.S. Treasury completed the first leg of its three-coupon note auctions this week by selling $58 billion of 3-year notes, with a high yield of 4.932%.

At the time of the auction, the WI level was 4.934%, and the notes were sold 0.2 basis points below that level, slightly smaller than the average stop-through of 0.3 basis points.

The Treasury said demand was sufficient to clear through the WI level, but weaker indirect participation weighed on the auction grade measured, even as direct bidders offset softer indirect demand.

The Treasury will next auction 10-year notes on Tuesday, and 30-year bonds on Wednesday, according to Forexlive.

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