The Treasury Department auctioned $44 billion of 13-week bills at a high yield of 1.320% on Monday.
The coupon equivalent was 1.343%, and the price was 99.666333.
The median rate was 1.300% while the low rate was 1.250%.
Tenders at the high rate were allotted 83.02%. The bid-to-cover ratio was 2.99.
Tenders totaled $134,523,031,200 and the Treasury accepted $45,000,441,200, including $593,001,200 of non-competitive.
The Fed banks bought nothing for themselves.