The Treasury Department Monday sold $50 billion 37-day cash management bills, dated Nov. 1, due Dec. 8, at a 1.030% high tender rate.

The bid to cover ratio was 3.33.

The coupon equivalent was 1.045%. The price was 99.894139.

The low bid was 0.990%. The median bid was 1.010%. Tenders at the high were allotted 30.45%.

Tenders totaled $166,679,107,000 and the Treasury accepted $50,000,494,500, including $24,407,000 non-competitive.

Treasury building.
Treasury building.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.