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 3.71.
Tenders at the high rate were allotted 90.26%. The median yield was 0.255%. The low yield was 0.240%.
The bills have an issue date of April 2 and are due March 31, 2016.
Tenders totaled $92,835,599,700 and the Treasury accepted $25,000,267,500, including $170,599,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
