The Treasury Department Wednesday auctioned $25 billion of 364-day bills at a 0.135% high yield, a price of 99.863500.
The coupon equivalent was 0.137%. The bid-to-cover ratio was 4.44.
Tenders at the high rate were allotted 17.15%. The median yield was 0.125%. The low yield was 0.120%.
The bills have an issue date of Nov. 14 and are due Nov. 13, 2014.
Tenders totaled $110,916,845,000 and the Treasury accepted $25,001,192,500, including $165,245,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
