NEW YORK - The Treasury Department today auctioned $25 billion of 364-day bills at a 0.320% high yield, a price of 99.676444.
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The coupon equivalent was 0.325%. The bid-to-cover ratio was 4.19.
Tenders at the high rate were allotted 12.82%. The median yield was 0.305%. The low yield was 0.280%.
The bills have an issue date of July 1 and are due June 30, 2011.
Tenders totaled $104,795,077,400 and the Treasury accepted $25,000,173,400, including $208,967,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
