NEW YORK - The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.120% high yield, a price of 99.878667.
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The coupon equivalent was 0.122%. The bid-to-cover ratio was 4.52.
Tenders at the high rate were allotted 4.22%. The median yield was 0.110%. The low yield was 0.090%.
The bills have an issue date of Oct. 20 and are due Oct. 18, 2012.
Tenders totaled $112,924,409,500 and the Treasury accepted $25,000,930,500, including $147,409,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
