NEW YORK - The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.295% high yield, a price of 99.701722.
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The coupon equivalent was 0.300%. The bid-to-cover ratio was 3.94.
Tenders at the high rate were allotted 62.93%. The median yield was 0.280%. The low yield was 0.260%.
The bills have an issue date of July 29 and are due July 28, 2011.
Tenders totaled $98,535,566,200 and the Treasury accepted $25,000,073,200, including $234,111,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
