The Treasury Department Tuesday auctioned $23 billion of four-week bills at a 0.070% high yield and a price of 99.994556.
The coupon equivalent was 0.071%. The bid-to-cover ratio was 4.72. Tenders at the high rate were allotted 45.27%. The median yield was 0.060%. The low yield was 0.000%. The bills have an issue date of Aug. 4 and are due Sept. 1.
Tenders totaled $108,414,167,000 and the Treasury accepted $22,802,119,000, including $197,928,900 of noncompetitive. Federal Reserve banks bought $3,781,546,000 for their own account in exchange for maturing securities.
