Summary Box: Treasury borrows at record low rate

AP News
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Posted: Oct 12, 2010 5:32 PM
Summary Box: Treasury borrows at record low rate

CHEAP DEBT: The government sold $32 billion in three-year notes at a record low rate of 0.57 percent.

FED WATCH: Treasurys slid after the Federal Reserve released minutes from its Sept. meeting. Traders were looking for clear signs the Fed would start a new bond buying effort.

MORE DEBT TO COME: Tuesday's sale of three-year notes was the first of three auctions expected to raise $66 billion for the Treasury. The government plans on selling $21 billion in 10-year notes Wednesday.