The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.260% high yield, a price of 99.737111.
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The coupon equivalent was 0.265%. The bid-to-cover ratio was 3.91.
Tenders at the high rate were allotted 83.81%. The median yield was 0.255%. The low yield was 0.245%.
The bills have an issue date of March 5 and are due March 3, 2016
Tenders totaled $97,793,631,500 and the Treasury accepted $25,000,275,000, including $157,881,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
