The Treasury Department yesterday auctioned $22 billion of four-week bills at a 0.040% high yield, a price of 99.996889.

The coupon equivalent was 0.041%. The bid-to-cover ratio was 3.67.

Tenders at the high rate were allotted 37.39%. The median yield was 0.005%. The low yield was zero.

Tenders totaled $80,739,428,200 and the Treasury accepted $22,000,058,200, including $271,658,200 of noncompetitive.

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