The Treasury Department auctioned $48 billion of 13-week bills at a high yield of 1.430% on Monday.
The coupon equivalent was 1.455%, and the price was 99.638528.
The median rate was 1.400% while the low rate was 1.375%.
Tenders at the high rate were allotted 34.02%. The bid-to-cover ratio was 2.90.
Tenders totaled $139,366,865,700 and the Treasury accepted $48,000,428,700, including $334,000,000 of non-competitive.
The Fed banks bought nothing for themselves.