The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.020% high yield, a price of 99.998444.
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The coupon equivalent was 0.020%. The bid-to-cover ratio was 3.45.
Tenders at the high rate were allotted 98.29%. The median rate was 0.005%. The low rate was zero.
The bills have an issue date of March 26 and are due April 23.
Tenders totaled $138,033,205,500 and the Treasury accepted $40,000,270,500, including $231,271,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
