The Treasury Department Wednesday auctioned $32 billion of four-week bills at a 0.035% high yield, a price of 99.997278.
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The coupon equivalent was 0.035%. The bid-to-cover ratio was 4.48.
Tenders at the high rate were allotted 99.13%. The median rate was 0.030%. The low rate was zero.
The bills have an issue date of February 20, and are due March 20.
Tenders totaled $143,464,822,800 and the Treasury accepted $32,000,582,000, including $221,983,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
