Yields on 3-Year Treasury Notes Hit Record Low

Yields on three-year Treasury notes fell in Tuesday’s auction to the lowest level on record.

The average yield was 4.69%, down from 5.96% at the last auction May 5. It was the lowest rate since the start of regular auctions of three-year notes in 1978.

The notes will carry a coupon interest rate of 4.635%, with each $10,000 in face value selling for $9,982.00.

A total of $15 billion in notes was sold at the first installment of the government’s quarterly refunding auctions, which are used to help finance the $3.9-trillion national debt.

A total of $11 billion in 10-year notes will be auctioned off today, and $10 billion in 30-year bonds will be sold Thursday.