NEW YORK - The Treasury Department today auctioned $26 billion of one-year bills at a 0.375% high yield, a price of 99.620833.
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The coupon equivalent was 0.381%. The bid-to-cover ratio was 4.00.
Tenders at the high rate were allotted 65.65%. The median yield was 0.350%. The low yield was 0.310%.
The bills have an issue date of March 11 and are due March 10, 2011.
Tenders totaled $103,884,331,900 and the Treasury accepted $26,000,219,400, including $166,314,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
