The Treasury Department Tuesday auctioned $40 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 3.06.
Tenders at the high rate were allotted 21.82%. The median rate was 0.240%. The low rate was 0.150%.
The bills have an issue date of June 2 and are due June 30.
Tenders totaled $122,528,168,300 and the Treasury accepted $40,000,038,300, including $221,967,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
