NEW YORK - The Treasury Department today auctioned $26 billion of 364-day bills at a 0.485% high yield, a price of 99.509611.
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The coupon equivalent was 0.494%. The bid-to-cover ratio was 3.66.
Tenders at the high rate were allotted 1.56%. The median yield was 0.460%. The low yield was 0.430%.
The bills have an issue date of April 8 and are due April 7, 2011.
Tenders totaled $94,950,000,000 and the Treasury accepted $25,809,116,000, including $191,039,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
