The Treasury Department yesterday auctioned $26 billion of 364-day bills at a 0.420% high yield and a price of 99.557333.
The coupon equivalent was 0.427%. The bid-to-cover ratio was 4.01.
Tenders at the high rate were allotted 65.39%. The median yield was 0.400%. The low yield was 0.300%.
The bills have an issue date of May 6 and are due May 5, 2011.
Tenders totaled $104,358,668,600 and the Treasury accepted $26,000,071,900, including $203,568,600 of noncompetitive.
The Treasury also auctioned $23 billion of four-week bills at a 0.150% high yield and a price of 99.988333.
The coupon equivalent was 0.152%. The bid-to-cover ratio was 4.82.
Tenders at the high rate were allotted 0.87%. The median yield was 0.135%. The low yield was 0.100%.
The bills have an issue date of May 6 and are due June 3.
Tenders totaled $110,873,341,000 and the Treasury accepted $23,001,251,000, including $276,941,000 of noncompetitive.
The Federal Reserve banks bought $5,937,991,000 for their own account in exchange for maturing securities.