The Treasury Department Tuesday auctioned $40 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 3.51.
Tenders at the high rate were allotted 49.98%. The median rate was 0.025%. The low rate was zero.
The bills have an issue date of Nov. 20 and are due Dec. 18.
Tenders totaled $140,572,780,100 and the Treasury accepted $40,000,312,100, including $253,583,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
