NEW YORK - The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.265% high yield, a price of 99.7320565
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The coupon equivalent was 0.269%. The bid-to-cover ratio was 4.25.
Tenders at the high rate were allotted 38.36%. The median yield was 0.255%. The low yield was 0.230%.
The bills have an issue date of September 23 and are due September 22, 2011.
Tenders totaled $106,149,283,300 and the Treasury accepted $25,000,307,300, including $215,283,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
