The Treasury Department today sold $29 billion of 31-day cash management bills, dated Aug. 15 and due Sept. 15, at a 1.940% high tender rate.

The bid to cover ratio was 2.37.

The coupon equivalent was 1.970%. The price was 99.832944. The low bid was 1.750%. The median bid was 1.850%. Tenders at 1.940% were allotted 2.75%.

Tenders totaled $68,776,000,000 and the Treasury accepted $29,000,450,000, including $1,000,000 non-competitive.

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