NEW YORK - The Treasury Department today auctioned $27 billion of one-year bills at a 0.405% high yield, a price of 99.590500.
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The coupon equivalent was 0.412%. The bid-to-cover ratio was 3.13.
Tenders at the high rate were allotted 71.84%. The median yield was 0.385%. The low yield was 0.350%.
The bills have an issue date of Sept. 24 and are due Sept. 23, 2010.
Tenders totaled $84,434,722,000 and the Treasury accepted $27,000,011,600, including $202,722,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
