The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.045% high yield, a price of 99.996500.
The coupon equivalent was 0.046%. The bid-to-cover ratio was 4.61.
Tenders at the high rate were allotted 23.94%. The median rate was 0.040%. The low rate was 0.030%.
The bills have an issue date of June 20 and are due July 18.
Tenders totaled $138,225,188,700 and the Treasury accepted $30,001,838,700, including $278,906,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.