Correction: $58 billion 3-year T-note auction has 3.440% interest and above-average demand

The note published on Tuesday afternoon, the 10th, contained an error in the first paragraph. The text stated that the auction demand was below average, but in fact it was above average. Here is the corrected version:

The Treasury Department auctioned $58 billion in 3-year T-notes on Tuesday, March 10, with a yield of 3.440%. The bid-to-cover rate, an indicator of demand, was 2.66 times, above the recent average of 2.56 times, according to BMO Capital.

Indirect offers, which represent demand from abroad, accounted for 78.2% of the amount offered, out of a recent average of 64.7%, and direct offers took 11.3%, out of an average of 18.8%. Dealers took 10.5%, out of a recent average of 16.4%.