The Treasury Department Tuesday auctioned $23 billion of 364-day bills at a 0.125% high yield, a price of 99.873611.
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The coupon equivalent was 0.127%. The bid-to-cover ratio was 4.83.
Tenders at the high rate were allotted 17.79%. The median yield was 0.120%. The low yield was 0.105%.
The bills have an issue date of January 9 and are due January 8, 2015
Tenders totaled $111,201,653,400 and the Treasury accepted $23,000,350,400, including $142,374,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
