The Treasury Department Wednesday auctioned $45 billion of four-week bills at a 0.085% high yield, a price of 99.993389.

The coupon equivalent was 0.086%. The bid-to-cover ratio was 4.40.

Tenders at the high rate were allotted 3.69%. The median rate was 0.070%. The low rate was 0.050%.

The bills have an issue date of March 7 and are due April 4.

Tenders totaled $197,786,570,200 and the Treasury accepted $45,001,047,700, including $259,915,200 non-competitive.

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

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