"The large amount of noncompetitive bids, $1.4 billion, also tells us that many individual investors were interested."

The amount of noncompetitive bids was the largest for a 10-year security in nearly five years.

Interest from individual investors in the new notes was strong, with $1.8 billion worth of noncompetitive bids received.

Also the noncompetitive bids, a gauge of retail participation, was low.

Another was that only $973 million of the noncompetitive bids were submitted for the three-year notes.

And the total of noncompetitive bids for the notes was only $36 million, compared with $157 million in January.

In response to higher yields, noncompetitive bids, a gauge of small investors' interest, were quite strong.

More than $1.41 billion worth of noncompetitive bids were received.

At the last four-year note sale, the Treasury received just a bit more than $1 billion worth of noncompetitive bids.

With a noncompetitive bid, you agree to accept the interest rate determined at auction.