September 11, 2018 / 5:16 PM / 2 months ago

Treasury auctions U.S. 3-year note at highest yield since 2007

NEW YORK, Sept 11 (Reuters) - The U.S. Treasury Department on Tuesday sold $35 billion of three-year government notes, the largest offering at this maturity since 2010, at a high yield of 2.821 percent, the highest since May 2007, Treasury data showed.

The ratio of bids to the amount of three-year debt offered was 2.68, higher than 2.65 in August and 2.51 in July which was the lowest reading since April 2009. Indirect bidders, who are used as a proxy for foreign demand, took 46.28 percent of the supply, higher than 42.68 percent in August, but lower than the average of 51.22 percent. (Reporting by Kate Duguid Editing by Susan Thomas)

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