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.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.