The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.330% high yield, a price of 99.666333.
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The coupon equivalent was 0.315%. The bid-to-cover ratio was 2.90.
Tenders at the high rate were allotted 9.22%. The median yield was 0.315%. The low yield was 0.290%.
The bills have an issue date of July 23 and are due July 21, 2016.
Tenders totaled $84,302,544,700 and the Treasury accepted $25,000,315,700, including $146,544,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
