NEW YORK (CNNMoney.com) -- Treasurys inched slightly higher Tuesday, in the midst of the government's $40 billion auction of 3-year notes -- the first of several multibillion-dollar note and bond offerings in the coming days.
What prices are doing: The benchmark 10-year note inched slightly higher by 7/32 to 99-14/32 and its yield fell to 3.699%. Bond prices and yields move in opposite directions.
The 30-year bond rose 8/32 to 99-8/32, and its yield fell to 4.674%. The 2-year note rose 2/32 to 100-1/32 with a yield of 0.876%. The 5-year note rose 6/32 to 100-7/32 with a yield of 2.337%.
What's moving the market: Tuesday's auction of 3-year notes showed solid demand. The auction marked the first of the government's $74 billion offerings in notes and bonds this week.
Investors submitted bids totaling nearly $125 billion for the $40 billion worth of 3-year notes sold Tuesday.
The bid-to-cover ratio, a measure of demand, was 3.13. That's up from 2.83 at the previous auction in February.
The auctions also include $21 billion in 10-year debt on Wednesday, and $13 billion in 30-year bonds on Thursday.
What analysts are saying: Investors will keep a close eye on demand from foreign bidders this week, said Kenneth Naehu, managing director and head of fixed income at Bel Air Investment Advisors. The big question is to what extent will they continue to buy U.S. debt in the auctions, he said.
In today's 3-year note auctions, indirect bidders -- a category that includes foreign central banks -- bought about half of the bonds sold. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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