The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 1.060% high yield, a price of 98.928222.
The coupon equivalent was 1.083%. The bid-to-cover ratio was 3.23.
Tenders at the high rate were allotted 7.15%. The median yield was 1.035%. The low yield was 0.995%.
The bills have an issue date of April 27 and are due April 26, 2018.
Tenders totaled $64,511,421,900 and the Treasury accepted $20,000,121,900, including $231,871,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.