The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.015% high yield, a price of 99.998833.
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The coupon equivalent was 0.015%. The bid-to-cover ratio was 3.95.
Tenders at the high rate were allotted 17.01%. The median rate was 0.005%. The low rate was zero.
The bills have an issue date of Feb. 12 and are due March 12.
Tenders totaled $157,943,959,500 and the Treasury accepted $40,001,374,500, including $262,695,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
