Kicking off this week's series of long-term securities auctions, the Treasury Department sold $32 billion worth of three-year notes on Tuesday, attracting slightly below average demand.
The three-year note auction drew a high yield of 0.347 percent and a bid-to-cover ratio of 3.30.
Last month, the Treasury also sold $32 billion worth of three-year notes, drawing a high yield of 0.37 percent and a bid-to-cover ratio of 3.73.
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 an average bid-to-cover ratio of 3.35.
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.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.