The Treasury Department Tuesday auctioned $55 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 3.17.
Tenders at the high rate were allotted 94.80%. The median rate was 0.260%. The low rate was 0.240%.
The bills have an issue date of Aug. 25 and are due Sept. 22.
Tenders totaled $174,574,584,000 and the Treasury accepted $55,000,584,000, including $252,856,000 non-competitive.
The Fed banks bought nothing for their own account.
