Investing.com -- The U.S. government sold $58 billion of 3-year notes on Tuesday at a lower-than-expected yield amid stronger demand for shorter duration yields.
The notes were awarded at 4.399%, below the pre-sale, or when-issue, rate of 4.407%, the 4.659% high seen in the prior auction.
In a sign of a stronger demand, the bid to cover ratio for the auction rose to 2.67 from 2.43 seen in the prior auction.