NEW YORK - The Treasury Department Tuesday auctioned $24 billion of 364-day bills at a 0.225% high yield, a price of 99.772500.
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The coupon equivalent was 0.229%. The bid-to-cover ratio was 4.81.
Tenders at the high rate were allotted 46.47%. The median yield was 0.210%. The low yield was 0.150%.
The bills have an issue date of October 21 and are due October 20, 2011.
Tenders totaled $115,444,848,300 and the Treasury accepted $24,000,219,300, including $209,348,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
