The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.055% high yield, a price of 99.995569.

The coupon equivalent was 0.056%. The bid-to-cover ratio was 3.78.

Tenders at the high rate were allotted 4.21%. The median rate was 0.040%. The low rate was 0.030%.

The bills have an issue date of October 31 and are due November 29.

Tenders totaled $170,273,011,700 and the Treasury accepted $45,000,586,700, including $213,889,900 non-competitive.

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

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