The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.145% high yield, a price of 99.988722.

The coupon equivalent was 0.147%. The bid-to-cover ratio was 4.14.

Tenders at the high rate were allotted 22.51%. The median yield was 0.135%. The low yield was 0.100%.

The bills have an issue date of Nov. 15 and are due Dec. 13.

Tenders totaled $165,730,894,000 and the Treasury accepted $40,000,919,000, including $245,747,000 non-competitive.

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

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