The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.135% high yield, a price of 99.863500.
The coupon equivalent was 0.135%. The bid-to-cover ratio was 4.48.
Tenders at the high rate were allotted 78.62%. The median yield was 0.130%. The low yield was 0.120%.
The bills have an issue date of Dec. 12 and are due Dec. 11, 2014.
Tenders totaled $111,821,000,000 and the Treasury accepted $24,787,000,000, including $137,000,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
