Yields on three-year Treasury notes rose at...

Yields on three-year Treasury notes rose at Tuesday’s auction to the highest level since early last year. It was the first of three auctions this week to raise $28 billion to replenish government coffers. The average yield was 7.94%, up from 7.91% at the last auction on May 5. It was the highest rate since three-year notes averaged 8.11% on Feb. 4, 1986. The notes will carry a coupon rate of 7.875% with each $10,000 in face value selling for $9,983. About $9.8 billion in notes were sold out of bids totaling $35 billion.