The Treasury Department Tuesday auctioned $18 billion of 364-day bills at a 0.530% high yield, a price of 99.464111.
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The coupon equivalent was 0.541%. The bid-to-cover ratio was 3.59.
Tenders at the high rate were allotted 50.70%. The median yield was 0.510%. The low yield was 0.490%.
The bills have an issue date of Feb. 4 and are due Feb. 2, 2017.
Tenders totaled $64,612,737,300 and the Treasury accepted $18,000,097,300, including $212,737,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
