The Treasury Department Tuesday auctioned $40 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 4.70.
Tenders at the high rate were allotted 34.94%. The median rate was 0.020%. The low rate was 0.010%.
The bills have an issue date of May 15 and are due June 12.
Tenders totaled $187,906,012,400 and the Treasury accepted $40,000,322,400, including $228,904,300 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
