The Treasury Department Thursday sold $20 billion 14-day cash management bills, dated August 1, due August 15, at a 1.010% high tender rate.

The bid to cover ratio was 3.94.

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The coupon equivalent was 1.024%. The price was 99.960722.

The low bid was 0.950%. The median bid was 0.990%. Tenders at the high were allotted 2.00%.

Tenders totaled $78,750,164,000 and the Treasury accepted $20,000,164,000, including $164,000 non-competitive.