The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.030% high yield, a price of 99.997667.

The coupon equivalent was 0.030%. The bid-to-cover ratio was 3.94.

Tenders at the high rate were allotted 42.02%. The median rate was 0.020%. The low rate was zero.

The bills have an issue date of August 1 and are due August 29.

Tenders totaled $177,325,261,200 and the Treasury accepted $45,000,736,200, including $255,976,900 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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