The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.245% high yield, a price of 99.980944.
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The coupon equivalent was 0.248%. The bid-to-cover ratio was 3.33.
Tenders at the high rate were allotted 70.65%. The median rate was 0.220%. The low rate was 0.200%.
The bills have an issue date of May 12 and are due June 9.
Tenders totaled $149,972,906,000 and the Treasury accepted $45,000,056,000, including $267,061,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
