The Treasury Department Tuesday auctioned $23 billion of 364-day bills at a 0.105% high yield, a price of 99.893833.
The coupon equivalent was 0.107%. The bid-to-cover ratio was 4.91.
Tenders at the high rate were allotted 33.64%. The median yield was 0.100%. The low yield was 0.090%.
The bills have an issue date of May 2 and are due May 1, 2014.
Tenders totaled $112,893,264,200 and the Treasury accepted $23,001,064,200, including $128,064,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.