The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.155% high yield, a price of 99.988375.

The coupon equivalent was 0.157%. The bid-to-cover ratio was 4.12.

Tenders at the high rate were allotted 39.03%. The median yield was 0.145%. The low yield was 0.120%.

The bills have an issue date of Nov. 23 and are due Dec. 20.

Tenders totaled $164,608,257,000 and the Treasury accepted $40,001,037,000, including $305,380,400 non-competitive.

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

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