The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.685% high yield, a price of 99.307389.
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The coupon equivalent was 0.698%. The bid-to-cover ratio was 3.77.
Tenders at the high rate were allotted 17.87%. The median yield was 0.680%. The low yield was 0.640%.
The bills have an issue date of May 26 and are due May 25, 2017.
Tenders totaled $75,400,377,500 and the Treasury accepted $20,000,102,500, including $206,377,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
