The tender rate for the Treasury Department's latest 26-week discount bills was higher, as the three-months incurred a 1.100% high rate, up from 1.070% the prior week.

Bloomberg News

The coupon equivalent was 1.122%. The price was 99.443889. The median bid was 1.090%. The low bid was 1.070%.

Tenders at the high rate were allotted 60.58%. The bid-to-cover ratio was 3.76.

Tenders totaled $124,166,034,700 and the Treasury accepted $33,000,002,700 including $411,206,700 of non-competitive.

The Fed banks bought nothing for themselves.

Treasury also auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.500% high yield, a price of par.

The bid-to-cover ratio was 3.00.

Tenders at the high yield were allotted 83.76%. All competitive tenders at lower yields were accepted in full.

The median yield was 1.460%. The low yield was 1.380%.

Tenders totaled $72,109,807,600 and the Treasury accepted $24,000,079,600, including $77,007,600 non-competitive.

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

The notes, dated June 15, will mature June 15, 2020.

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