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 3.68.
Tenders at the high rate were allotted 3.76%. The median rate was 0.005%. The low rate was zero.
The bills have an issue date of Feb. 26 and are due March 26.
Tenders totaled $147,357,668,600 and the Treasury accepted $40,000,248,600, including $254,619,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
