The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.045% high yield, a price of 99.996500.
The coupon equivalent was 0.046%. The bid-to-cover ratio was 4.45.
Tenders at the high rate were allotted 20.09%. The median rate was 0.035%. The low rate was 0.020%.
The bills have an issue date of April 25 and are due May 23.
Tenders totaled $178,086,107,600 and the Treasury accepted $40,001,182,600, including $253,927,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
