The Treasury sells $38B in three-year notes at 1.414% (.pdf). Bid-to-cover ratio of 3.27, vs. a...

|By:, SA News Editor

The Treasury sells $38B in three-year notes at 1.414% (.pdf). Bid-to-cover ratio of 3.27, vs. a recent 2.96; indirect bidders take 50.7%, vs. a recent 54.2%. Direct bidders take 16.5%. Treasurys pared losses slightly: 30-year futures -0.26%; 10-year -0.05%; 5-year -0.05%.