The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.010% high yield, a price of 99.999222.
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The coupon equivalent was 0.010%. The bid-to-cover ratio was 4.55.
Tenders at the high rate were allotted 3.50%. The median rate was zero. The low rate was zero.
The bills have an issue date of May 1 and are due May 29.
Tenders totaled $113,700,529,100 and the Treasury accepted $25,001,029,100, including $276,963,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
