The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.015% high yield, a price of 99.998833.
The coupon equivalent was 0.015%. The bid-to-cover ratio was 4.83.
Tenders at the high rate were allotted 87.87%. The median rate was 0.010%. The low rate was 0.000%.
The bills have an issue date of April 24 and are due May 22.
Tenders totaled $120,844,088,500 and the Treasury accepted $25,000,233,500, including $215,263,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
