NEW YORK - The Treasury Department today auctioned $26 billion of 364-day bills at a 0.420% high yield, a price of 99.557333.
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The coupon equivalent was 0.427%. The bid-to-cover ratio was 4.01.
Tenders at the high rate were allotted 65.39%. The median yield was 0.400%. The low yield was 0.300%.
The bills have an issue date of May 6 and are due May 5, 2011.
Tenders totaled $104,358,668,600 and the Treasury accepted $26,000,071,900, including $203,568,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
