The Treasury sells $36B in three-year notes at 1.220% (.pdf). Bid-to-cover ratio of 3.23, vs. a...

|By:, SA News Editor

The Treasury sells $36B in three-year notes at 1.220% (.pdf). Bid-to-cover ratio of 3.23, vs. a recent 3.08; indirect bidders take 46.7%, vs. a recent 51.5%. Direct bidders take 16.3%, vs. a recent 11.9%. Long-bond Treasury futures bump up, +0.13%; 10-year +0.05%.