The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 1.025% high yield, a price of 98.963611.
The coupon equivalent was 1.047%. The bid-to-cover ratio was 3.17.
Tenders at the high rate were allotted 80.17%. The median yield was 0.990%. The low yield was 0.950%.
The bills have an issue date of March 30 and are due March 29, 2018.
Tenders totaled $63,395,504,300 and the Treasury accepted $20,000,051,300, including $210,504,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
