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By Carla Mozee
LOS ANGELES (MarketWatch) -- The Treasury Department sold $32 billion in 3-year notes on Tuesday at a yield of 0.37%. Bidders offered to buy 3.51 times the amount of debt sold, compared with an average of 3.47 times at the previous six auctions, according to Nomura Securities. Indirect bidders, a group which includes foreign central banks, bought 29.7% of the sale, compared with an average of 32.5% of recent sales. Direct bidders, a group which includes domestic money managers, purchased another 8.4% versus an average of 9.8% in recent auctions. The broader Treasury market largely held to losses after the auction, leaving yields higher. Yields on benchmark 10-year notes 10_YEAR +4.39% , which move inversely to prices, were up 7 basis points to 1.63%. Yields on 3-year notes 3_YEAR +12.01% briefly edged higher after the auction, but recently were up 2 basis points to 0.36%, where they were ahead of the auction.
