The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.040% high yield, a price of 99.996889.
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The coupon equivalent was 0.041%. The bid-to-cover ratio was 3.77.
Tenders at the high rate were allotted 26.04%. The median rate was 0.030%. The low rate was 0.020%.
The bills have an issue date of May 29 and are due June 26.
Tenders totaled $169,540,353,900 and the Treasury accepted $45,000,893,900, including $228,330,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
