The Treasury Department Tuesday auctioned $50 billion of four-week bills at a 0.040% high yield, a price of 99.996889.
The coupon equivalent was 0.041%. The bid-to-cover ratio was 3.83.
Tenders at the high rate were allotted 19.40%. The median rate was 0.030%. The low rate was 0.020%.
The bills have an issue date of August 29 and are due September 26.
Tenders totaled $191,363,220,800 and the Treasury accepted $50,000,220,800, including $271,971,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
