The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.045% high yield, a price of 99.996500.
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The coupon equivalent was 0.046%. The bid-to-cover ratio was 3.27.
Tenders at the high rate were allotted 12.48%. The median rate was 0.030%. The low rate was 0.010%.
The bills have an issue date of Aug. 27 and are due Sept. 24.
Tenders totaled $130,963,832,100 and the Treasury accepted $40,000,432,100, including $295,396,100 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
