The auction yield of 0.337% is the second-cheapest rate the US government will have to pay on three-year debt. The record low is 0.334%, which happened at last September's sale. Despite the paltry yield, bidders showed up in strength. The market is starting to find some buying momentum, with 10-year notes now up 1/32 to yield 1.678%. Next up is Wednesday's $21B ten-year note sale, which may draw more-mixed results as inflation chatter grows alongside prospects of additional Fed stimulus.
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