The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.660% high yield, a price of 99.332667.
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The coupon equivalent was 0.673%. The bid-to-cover ratio was 3.14.
Tenders at the high rate were allotted 48.76%. The median yield was 0.630%. The low yield was 0.620%.
The bills have an issue date of March 31 and are due March 30, 2017.
Tenders totaled $62,851,135,700 and the Treasury accepted $20,000,055,700, including $196,041,700 non-competitive. The Fed banks bought nothing for their own account in exchange for maturing securities.
