7-day cash management bills draw 1.010% high rate

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The Treasury Department Friday sold $20 billion 7-day cash management bills, dated Sept. 8, due Sept. 15, at a 1.010% high tender rate.

The bid to cover ratio was 4.28.

The coupon equivalent was 1.024%. The price was 99.980361.

The low bid was 0.900%. The median bid was 0.980%. Tenders at the high were allotted 76.47%.

Tenders totaled $85,545,000,000 and the Treasury accepted $20,000,250,000, including no non-competitive.

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