The Treasury Department Wednesday auctioned $45 billion of four-week bills at a 0.115% high yield, a price of 99.991056.

The coupon equivalent was 0.117%. The bid-to-cover ratio was 4.35.

Tenders at the high rate were allotted 96.37%. The median rate was 0.105%. The low rate was 0.080%.

The bills have an issue date of Feb. 21 and are due March 21.

Tenders totaled $195,601,078,500 and the Treasury accepted $45,000,303,500, including $303,086,500 non-competitive.

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

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