NEW YORK (MarketWatch) – The Treasury Department sold $35 billion in 3-year notes to yield 1.473%. The amount matches last month’s sale as the most on record. Bidders offered $2.66 for every dollar available, compared with an average of $2.29 at the last four auctions. That’s the highest since November, when the security was reintroduced. Indirect bidders, a class of investors that includes foreign central banks, bought 37.3% of the sale, compared to 37.9% on average at the last four offerings. The government’s bond sales have received extra attention in recent months as an indication of how well the U.S. can finance all the economic stimulus and financial market stability programs lawmakers and the Federal Reserve have enacted. Ten-year note yields remained higher after the auction, by 3 basis points at 3.18%.
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