The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.285% high yield, a price of 99.977833.
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The coupon equivalent was 0.290%. The bid-to-cover ratio was 3.39.
Tenders at the high rate were allotted 10.45%. The median rate was 0.270%. The low rate was 0.200%.
The bills have an issue date of Feb. 25 and are due March 24.
Tenders totaled $186,417,854,100 and the Treasury accepted $55,000,004,100, including $295,512,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
