The Treasury Department yesterday auctioned $25 billion of 364-day bills at a 0.365% high yield, a price of 99.630944.
The coupon equivalent was 0.371%. The bid-to-cover ratio was 4.59. Tenders at the high rate were allotted 90.68%. The median yield was 0.360%. The low yield was 0.340%.
The bills have an issue date of June 3 and are due June 2, 2011.
Tenders totaled $114,716,465,600 and the Treasury accepted $25,000,497,600, including $225,465,600 of noncompetitive.
Treasury also auctioned $31 billion of four-week bills at a 0.130% high yield, a price of 99.989889.
The coupon equivalent was 0.132%. The bid-to-cover ratio was 4.51.
Tenders at the high rate were allotted 93.14%. The median yield was 0.100%. The low yield was 0.075%.