At the latest sale, bids totaled 2.53 times the notes sold, down from 2.62 in October; the high yield was 4.627%, compared with 4.932% at the earlier auction.
The measure compares bids with the amount of notes sold, making the lower multiple a sign of softer demand.
The when-issued market level before the sale was 4.622%. The auction yield came in 0.005 percentage point above that reference.
The Monday, Nov. 9 sale formed part of a $125 billion Treasury refunding package. The refunding schedule allocated $58 billion to three-year notes, $42 billion to 10-year notes and $25 billion to 30-year bonds.
The next sale in the package, a 30-year bond auction, is scheduled for Thursday, Nov. 12, at 1 p.m. ET.
