The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.250% high yield, a price of 99.980556.
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The coupon equivalent was 0.254%. The bid-to-cover ratio was 3.80.
Tenders at the high rate were allotted 58.48%. The median rate was 0.240%. The low rate was 0.200%.
The bills have an issue date of Sept. 8 and are due Oct. 6.
Tenders totaled $151,876,429,100 and the Treasury accepted $40,000,899,800, including $259,922,700 non-competitive.
The Fed banks bought nothing for their own account.
