The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.265% high yield, a price of 99.979389.
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The coupon equivalent was 0.269%. The bid-to-cover ratio was 3.45.
Tenders at the high rate were allotted 19.91%. The median rate was 0.250%. The low rate was 0.225%.
The bills have an issue date of May 26 and are due June 23.
Tenders totaled $155,452,701,000 and the Treasury accepted $45,000,751,000, including $349,987,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
