The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.850% high yield, a price of 99.140556.
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The coupon equivalent was 0.867%. The bid-to-cover ratio was 3.14.
Tenders at the high rate were allotted 78.73%. The median yield was 0.820%. The low yield was 0.800%.
The bills have an issue date of March 2 and are due March 1, 2018.
Tenders totaled $62,801,031,700 and the Treasury accepted $20,000,045,700, including $208,231,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
