NEW YORK - The Treasury Department Tuesday auctioned $24 billion of 364-day bills at a 0.280% high yield, a price of 99.716889.
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The coupon equivalent was 0.285%. The bid-to-cover ratio was 3.70.
Tenders at the high rate were allotted 5.99%. The median yield was 0.265%. The low yield was 0.220%.
The bills have an issue date of April 7 and are due April 5, 2012.
Tenders totaled $88,774,414,200 and the Treasury accepted $24,000,594,200, including $202,474,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
