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NEW YORK, June 12 (Reuters) - The U.S. Treasury Department on Monday sold $24 billion in three-year government debt to the strongest bidding in about 1-1/2 years, Treasury data showed.
The three-year note auction was first of three coupon debt auctions this week.
The Treasury will sell $20 billion in 10-year notes at 1 p.m. (1700 GMT) and $12 billion in 30-year bonds on Tuesday.
The ratio of bids to the amount of three-year notes offered was 3.00, the highest since December 2015 when it was 3.14. This measure of overall auction demand was 2.76 at the previous three-year note auction in May.
The yield of the latest three-year Treasury issue was 1.500 percent, the lowest in four monthly auctions.
The robust bidding stemmed from heavy demand from indirect bidders which include domestic fund managers and foreign central banks, analysts said.
The Treasury Department awarded this group of bidders 65.62 percent of the three-year supply, which was their biggest share since November 2009.
"The strength of the indirect bid typically reflects the strength of investment fund demand, but given the size of the bid this month we expect it was a combination of investment fund and foreign demand," Stone & McCarthy Research Associates' market strategist John Canavan wrote in a comment on the three-year auction. (Reporting by Richard Leong; Editing by Chizu Nomiyama and James Dalgleish)