Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed yesterday, as the three-month bills incurred a 0.075% high rate, down from 0.080% the previous week, and the six-months incurred a 0.185% high rate, up from 0.170% the prior week.
Coupon equivalents were 0.076% and 0.188%, respectively. The price for the 91s was 99.981042 and that for the 182s was 99.906472.
The median bid on the 91s was 0.060%. The low bid was 0.040%. Tenders at the high rate were allotted 26.19%. The bid-to-cover ratio was 3.80.
The median bid for the 182s was 0.165%. The low bid was 0.130%. Tenders at the high rate were allotted 6.24%. The bid-to-cover ratio was 3.47.
Treasury also auctioned $7 billion of four-year six-month inflation-indexed notes with a 1 1/4% coupon, a 0.769% high yield, an adjusted price of 104.115658.
The bid-to-cover ratio was 3.10. Tenders at the high yield were allotted 38.26%. All competitive tenders at lower yields were accepted in full. The median yield was 0.720%. The low yield was 0.595%.