The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.025% high yield, a price of 99.998056.
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The coupon equivalent was 0.025%. The bid-to-cover ratio was 4.98.
Tenders at the high rate were allotted 47.47%. The median rate was 0.020%. The low rate was 0.010%.
The bills have an issue date of April 10 and are due May 8.
Tenders totaled $124,601,337,000 and the Treasury accepted $25,000,867,700, including $242,087,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
