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.