The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.440% high yield, a price of 99.555111.
The coupon equivalent was 0.449%. The bid-to-cover ratio was 3.17.
Tenders at the high rate were allotted 43.39%. The median yield was 0.415%. The low yield was 0.400%.
The bills have an issue date of Sept. 17 and are due Sept 15, 2016.
Tenders totaled $63,382,001,800 and the Treasury accepted $20,000,243,300, including $131,001,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
