Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher on Monday, as the three-months incurred a 1.045% high rate, up from 1.035% the prior week, and the six-months incurred a 1.180% high rate, up from 1.140% the week before.

Coupon equivalents were 1.062% and 1.204%, respectively. The price for the 91s was 99.735847 and that for the 182s was 99.403444.

Bloomberg News

The median bid on the 91s was 1.020%. The low bid was 0.985%.

Tenders at the high rate were allotted 84.02%. The bid-to-cover ratio was 3.05.

Tenders totaled $128,157,101,800 and the Treasury accepted $42,000,411,800 including $573,442,300 of non-competitive.

The Fed banks bought nothing for themselves.

The median bid for the 182s was 1.204%. The low bid was 1.140%.

Tenders at the high rate were allotted 8.75%. The bid-to-cover ratio was 3.21.

Tenders totaled $115,501,649,800 and the Treasury accepted $36,000,337,300, including $456,331,600 of non-competitive.

The Fed banks bought nothing for themselves.

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Chip Barnett

Chip Barnett

Chip Barnett is a journalist with more than 40 years of experience. Barnett is currently Senior Market Reporter for The Bond Buyer.