The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.060% high yield and a price of 99.995333.
The coupon equivalent was 0.061%. The bid-to-cover ratio was 4.11.
Tenders at the high rate were allotted 67.56%. The median yield was 0.050%. The low yield was zero.
The bills have an issue date of Feb. 23 and are due March 22. Tenders totaled $164,596,339,300 and the Treasury accepted $40,000,929,300, including $244,516,900 of noncompetitive.
Federal Reserve banks bought $6,285,071,700 for their own account in exchange for maturing securities.
