Treasury to auction off $58 billion of the 3 year notes at the top of the hour

WI three year yield trading at 0.325%

The US treasuries to auction off $50 billion a three year notes at the top of the hour. It is the first part of the refunding this week which will include $41 billion of 10 year notes and $27 billion of 30 year bonds on Wednesday and Thursday respectively.

The six month averages for auction results show:

• Bid to cover 2.43x
• Dealers 35.5%
• Directs 15.8%
• Indirects 48.7%

The last auction high yield came in at 0.376%.