The Treasury Department yesterday auctioned $27 billion of four-week bills at a 1.965% high yield, a price of 99.847167.
The coupon equivalent was 1.995%. The bid-to-cover ratio was 2.45.
Tenders at the high rate were allotted 83.62%. The median yield was 1.900%. The low yield was 1.850%.
The bills have an issue date of May 29 and are due June 26.
Tenders totaled $66,110,960,800 and the Treasury accepted $27,000,010,800, including $328,660,800 of noncompetitive.
Federal Reserve banks bought nothing for their own account in exchange for maturing securities.