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 3.43.
Tenders at the high rate were allotted 52.35%. The median rate was 0.005%. The low rate was zero.
The bills have an issue date of March 12 and are due April 9.
Tenders totaled $137,189,822,100 and the Treasury accepted $40,000,997,100, including $287,675,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
