The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.175% high yield, a price of 99.986389.

The coupon equivalent was 0.177%. The bid-to-cover ratio was 4.32.

Tenders at the high rate were allotted 41.12%. The median rate was 0.165%. The low rate was 0.150%.

The bills have an issue date of Nov. 29 and are due Dec. 27.

Tenders totaled $172,698,470,500 and the Treasury accepted $40,000,150,500, including $250,114,500 non-competitive.

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

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