WASHINGTON -
The coupon equivalent was 5.267%. The bid-to-cover ratio was 2.70.
Tenders at the high rate were allotted 96.38%. The median yield was 5.150%. The low yield was 5.120%.
The bills have an issue date of March 1 and are due March 29.
Tenders totaled $72,999,793,000 and the Treasury accepted $27,000,646,000, including $434,393,000 noncompetitive.
Federal Reserve banks also bought $3,177,340,000 for their own account in exchange for maturing securities.
The Federal Reserve governor's term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank's board.
Municipal yields fell four to seven basis points, depending on the curve, while UST yields rallied nine to 30 basis points, with the largest gains on the front end.
Legislation that would put a tighter limit on property tax increases for larger cities and counties advanced out of a Senate committee on Friday.
Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.
The federal government didn't have enough influence in the resulting haircuts to the COFINA bondholders for it to be liable for their losses, the court said.
This is the fourth consecutive month where issuance has topped $50 billion.
