August 7, 2018 / 5:19 PM / a month ago

U.S. 3-year note sold to mediocre demand

NEW YORK, Aug 7 (Reuters) - The U.S. Treasury Department on Tuesday sold $34 billion of three-year government notes, the first leg of this week’s $78 billion quarterly refunding, to mediocre demand, Treasury data showed.

The ratio of bids to the amount of three-year debt offered was 2.65, higher than 2.51 in July which was the lowest reading since April 2009. However, analysts said the gauge of overall auction demand was still below its recent averages. (Reporting by Richard Leong Editing by Tom Brown)

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