The Treasury Department on Tuesday auctioned $25 billion of 364-day bills at a 0.185% high yield and a price of 99.812944.

The coupon equivalent was 0.188%. The bid-to-cover ratio was 5.07.

Tenders at the high rate were allotted 23.61%.

The median yield was 0.180%. The low yield was 0.160%.

The bills have an issue date of May 31 and are due May 30, 2013.

Tenders totaled $126,740,458,000 and the Treasury accepted $25,000,805,000, including $155,558,000 of noncompetitive.

The Federal Reserve banks chose not to purchase bills for their own accounts in exchange for any of the Treasury securities.

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