The Treasury Department Tuesday auctioned $60 billion of four-week bills at a 0.280% high yield, a price of 99.978222.
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The coupon equivalent was 0.284%. The bid-to-cover ratio was 3.22.
Tenders at the high rate were allotted 66.97%. The median rate was 0.270%. The low rate was 0.250%.
The bills have an issue date of March 17 and are due April 14.
Tenders totaled $193,204,809,800 and the Treasury accepted $60,000,604,800, including $254,967,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
