The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.115% high yield, a price of 99.883722.
The coupon equivalent was 0.117%. The bid-to-cover ratio was 4.65.
Tenders at the high rate were allotted 91.96%. The median yield was 0.110%. The low yield was 0.100%.
The bills have an issue date of July 25 and are due July 24, 2014.
Tenders totaled $116,352,165,100 and the Treasury accepted $25,001,211,100, including $151,265,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
