The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.050% high yield, a price of 99.996111.
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The coupon equivalent was 0.051%. The bid-to-cover ratio was 3.13.
Tenders at the high rate were allotted 29.94%. The median rate was 0.040%. The low rate was zero.
The bills have an issue date of Aug. 13 and are due Sept. 10.
Tenders totaled $125,291,126,900 and the Treasury accepted $40,000,096,900, including $251,555,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
