The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.060% high yield, a price of 99.995333.

The coupon equivalent was 0.061%. The bid-to-cover ratio was 4.58.

Tenders at the high rate were allotted 45.50%. The median rate was 0.050%. The low rate was 0.040%.

The bills have an issue date of April 11 and are due May 9.

Tenders totaled $205,953,918,400 and the Treasury accepted $45,000,418,400, including $302,070,400 non-competitive.

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

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