Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower yesterday, as the three-months incurred a 3.175% high rate, a decrease from 3.390% last week, and the six-months incurred a 3.340% high rate, down from 3.460%. Coupon equivalents were 3.254% and 3.454%, respectively. The price for the 91s was 99.197431 and that for the 182s was 98.311444.The median bid on the 91s was 3.150%. The low bid was 3.050%. The bid-to-cover ratio was 2.88. Tenders at the high rate were allotted 87.65%. Tenders totaled $63,276,565,000 and the Treasury accepted $22,000,040,000.The median bid for the 182s was 3.310%. The low bid was 3.300%. The bid-to-cover ratio was 3.10. Tenders at the high rate were allotted 46.01%. Tenders totaled $61,905,854,000 and the Treasury accepted $20,000,244,000.
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