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 4.38.
Tenders at the high rate were allotted 0.01%. The median rate was 0.000%. The low rate was 0.000%.
The bills have an issue date of June 26 and are due July 24.
Tenders totaled $109,548,924,000 and the Treasury accepted $25,000,159,000, including $210,797,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
