The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.160% high yield, a price of 99.838222.
The coupon equivalent was 0.162%. The bid-to-cover ratio was 4.10.
Tenders at the high rate were allotted 68.47%. The median yield was 0.155%. The low yield was 0.140%.
The bills have an issue date of June 27 and are due June 26, 2014.
Tenders totaled $102,410,102,600 and the Treasury accepted $25,000,203,100, including $130,102,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.