The Treasury Department Tuesday auctioned $40 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 3.95.
Tenders at the high rate were allotted 12.77%. The median rate was zero. The low rate was zero.
The bills have an issue date of May 14 and are due June 11.
Tenders totaled $157,989,721,200 and the Treasury accepted $40,000,806,200, including $252,399,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
