The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.870% high yield, a price of 99.120333.
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The coupon equivalent was 0.888%. The bid-to-cover ratio was 3.39.
Tenders at the high rate were allotted 13.09%. The median yield was 0.850%. The low yield was 0.830%.
The bills have an issue date of Jan. 5 and are due Jan. 4, 2018.
Tenders totaled $67,886,626,700 and the Treasury accepted $20,000,056,700, including $176,626,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
