Overseas Demand Rises at First U.S. Post-Shutdown Note Auction

The Treasury’s $30 billion auction of three-year securities attracted higher-than-average demand from an investor class that includes foreign central banks at the first U.S. note auction since the government shutdown.

Indirect bidders purchased 34.4 percent of the notes at the sale yesterday, compared with an average of 28.2 percent for the past 10 auctions. The notes sold at a yield of 0.710 percent, compared with a forecast of 0.718 percent in a Bloomberg News survey of eight of the Fed’s 21 primary dealers.