US sells 3-year notes at 1.056% vs 1.055% WI

Results of the US 3-year Treasury auction

• The notes traded at 1.055% in the when-issued market prior to the sale
• Bid-to-cover at 3.23
• Prior bid-to-cover was 3.34

This one was pretty much bang-on estimates.

This is the warmup for a 10-year auction tomorrow and a 30-year sale on Thursday.