The Treasury Department Tuesday auctioned $35 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 4.38.
Tenders at the high rate were allotted 11.94%. The median rate was 0.025%. The low rate was 0.010%.
The bills have an issue date of June 5 and are due July 3.
Tenders totaled $153,355,697,100 and the Treasury accepted $35,002,627,100, including $264,397,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
