The Treasury Department yesterday sold $29 billion of 308-day cash management bills, dated Sept. 10 and due July 15, 2010, at a 0.385% high tender rate. The bid-to-cover ratio was 3.82.
The coupon equivalent was 0.391%. The price was 99.670611. The low bid was 0.340%. The median bid was 0.380%. Tenders at the high were allotted 75.37%.