The Treasury Department Wednesday auctioned $25 billion of 364-day bills at a 0.255% high yield, a price of 99.742167.
The coupon equivalent was 0.260%. The bid-to-cover ratio was 3.78.
Tenders at the high rate were allotted 3.39%. The median yield was 0.240%. The low yield was 0.225%.
The bills have an issue date of May 28 and are due May 26, 2016.
Tenders totaled $94,418,652,400 and the Treasury accepted $25,000,442,400, including $154,652,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
