NEW YORK - The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.200% high yield, a price of 99.797778.
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The coupon equivalent was 0.204%. The bid-to-cover ratio was 4.63.
Tenders at the high rate were allotted 13.43%. The median yield was 0.185%. The low yield was 0.170%.
The bills have an issue date of July 28 and are due July 26, 2012.
Tenders totaled $92,614,774,000 and the Treasury accepted $20,000,357,500, including $104,774,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
