NEW YORK - The Treasury Department Tuesday auctioned $22 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 4.57.
Tenders at the high rate were allotted 81.74%. The median yield was 0.280%. The low yield was 0.250%.
The bills have an issue date of December 16 and are due Devember 15, 2011.
Tenders totaled $100,576,194,300 and the Treasury accepted $22,000,007,900, including $191,294,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
