  The cross section for threshold production of the hypertriton in the reaction
pd->^3_\Lambda H K^+ is calculated in a two-step model and compared to the
break-up process pd -> d\LambdaK^+. The latter process is shown to be dominant
already at 2 MeV above threshold. The amplitude squared at threshold for the pd
-> ^3_\Lambda H K^+ reaction is |f|^2 = 1.0 nb/sr.
