The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 1.780% high yield, a price of 98.200222.

The coupon equivalent was 1.829%. The bid-to-cover ratio was 2.91.

Bloomberg News

Tenders at the high rate were allotted 61.93%. The median yield was 1.745%. The low yield was 1.710%.

The bills have an issue date of Jan. 4 and are due Jan. 3, 2019.

Tenders totaled $58,102,323,700 and the Treasury accepted $20,000,117,700, including $313,840,700 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

Treasury also auctioned $50 billion of four-week bills at a 1.270% high yield, a price of 99.901222.

The coupon equivalent was 1.289%. The bid-to-cover ratio was 2.89.

Tenders at the high rate were allotted 34.29%. The median rate was 1.245%. The low rate was 1.200%.

The bills have an issue date of Jan. 4 and are due Feb. 1.

Tenders totaled $144,592,686,600 and the Treasury accepted $50,000,086,600, including $562,100,800 non-competitive.

The Fed banks bought nothing for their own account.

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