The Treasury Department yesterday auctioned $25 billion of 364-day bills at a 0.320% high yield, a price of 99.676444.
The coupon equivalent was 0.325%. The bid-to-cover ratio was 4.19. Tenders at the high rate were allotted 12.82%. The median yield was 0.305%. The low yield was 0.280%. The bills have an issue date of July 1 and are due June 30, 2011.
Tenders totaled $104,795,077,400 and the Treasury accepted $25,000,173,400, including $208,967,400 of noncompetitive.
Federal Reserve banks bought nothing for their own account in exchange for maturing securities.
