U.S. auction sees good demand

SAN FRANCISCO (MarketWatch)
The Treasury Department sold $32 billion in 3-year notes on Tuesday at a yield of 0.385%
Bidders offered to buy 3.62 times the amount of debt sold, compared to an average of 3.67 at the last four monthly auctions, according to CRT Capital Group
Indirect bidders, a group which includes foreign central banks, bought 28.4% of the sale, compared to a recent average of 28.2%
Direct bidders, a group which includes domestic money managers, purchased another 26.4% compared with 20.8% on average
The rest goes to primary dealers who are required to bid, but often turn around and sell the new debt into the market, pressuring prices down