The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.275% high yield, a price of 99.978611.
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The coupon equivalent was 0.279%. The bid-to-cover ratio was 3.37.
Tenders at the high rate were allotted 98.32%. The median rate was 0.260%. The low rate was 0.210%.
The bills have an issue date of July 21 and are due Aug. 18.
Tenders totaled $151,644,189,800 and the Treasury accepted $45,000,109,800, including $330,122,800 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
