The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.100% high yield, a price of 99.992222.

The coupon equivalent was 0.101%. The bid-to-cover ratio was 4.40.

Tenders at the high rate were allotted 38.02%. The median rate was 0.090%. The low rate was 0.080%.

The bills have an issue date of March 14 and are due April 11.

Tenders totaled $197,939,570,200 and the Treasury accepted $45,000,530,000, including $304,993,200 non-competitive.

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

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