The Treasury Department yesterday auctioned $20 billion of four-week bills at a 5.060% high yield, a price of 99.606444.
The coupon equivalent was 5.165%. The bid-to-cover ratio was 2.56.
Tenders at the high rate were allotted 13.03%. The median yield was 5.045%. The low yield was 5.030%.
The bills have an issue date of April 5 and are due May 3.
Tenders totaled $50,705,340,000 and the Treasury accepted $19,528,040,000, including $463,062,000 of noncompetitive.
Federal Reserve banks also bought $3,591,195,000 for their own account in exchange for maturing securities.
