Intraday Update

2:25 PM ET Just a quick update before i go to get my labs done. Today’s $58 bln 3-yr note sale met soft demand. The sale drew a high yield of 3.972%, which tailed the when-issued yield by 0.4 basis points while the bid-to-cover ratio (2.52x) was a bit below average (2.59x). Indirect takedown (66.8%),…