The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.050% high yield, a price of 99.996111.

The coupon equivalent was 0.051%. The bid-to-cover ratio was 3.90.

Tenders at the high rate were allotted 97.70%. The median rate was 0.040%. The low rate was 0.030%.

The bills have an issue date of November 7 and are due December 5.

Tenders totaled $175,482,089,000 and the Treasury accepted $45,000,289,000, including $268,273,000 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.