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 4.85.
Tenders at the high rate were allotted 77.03%. The median yield was 0.115%. The low yield was 0.100%.
The bills have an issue date of March 6 and are due March 5, 2015
Tenders totaled $121,157,584,600 and the Treasury accepted $25,000,044,400, including $169,584,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
