The Treasury Department Tuesday auctioned $50 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 3.73.
Tenders at the high rate were allotted 0.17%. The median rate was 0.030%. The low rate was 0.020%.
The bills have an issue date of Aug. 14 and are due Sept. 11.
Tenders totaled $186,558,509,100 and the Treasury accepted $50,001,009,100, including $261,994,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
