The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.075% high yield, a price of 99.994167.

The coupon equivalent was 0.076%. The bid-to-cover ratio was 4.40.

Tenders at the high rate were allotted 80.91%. The median rate was 0.065%. The low rate was 0.050%.

The bills have an issue date of Jan. 3 and are due Jan. 31.

Tenders totaled $176,111,834,700 and the Treasury accepted $40,000,114,700, including $248,361,100 non-competitive.

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

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