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 0.036%. The bid-to-cover ratio was 3.52.
Tenders at the high rate were allotted 4.21%. The median rate was 0.020%. The low rate was zero.
The bills have an issue date of July 23 and are due Aug. 20.
Tenders totaled $140,996,925,900 and the Treasury accepted $40,001,035,900, including $260,974,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
