U.S. Treasury sells $58 billion of 3 or notes at a high yield of 4.474%

The 1st coupon auction of the week was met with average demand. The US treasury sold $58 billion of 3 or notes at a high yield of 4.474%. The WI level at the time of the auction was just above that level at 4.75% creating a tale of -0.1 basis points. Bid to cover 2.72X was…