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.

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