The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.550% high yield, a price of 99.443889.
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The coupon equivalent was 0.560%. The bid-to-cover ratio was 3.65.
Tenders at the high rate were allotted 65.86%. The median yield was 0.535%. The low yield was 0.500%.
The bills have an issue date of July 21 and are due July 20, 2017.
Tenders totaled $72,967,487,100 and the Treasury accepted $20,000,223,100, including $156,764,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
