The Treasury Department Tuesday auctioned $50 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 3.86.
Tenders at the high rate were allotted 13.44%. The median rate was 0.025%. The low rate was 0.020%.
The bills have an issue date of Aug. 21 and are due Sept. 18.
Tenders totaled $192,892,114,900 and the Treasury accepted $50,001,794,900, including $269,458,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
