The Treasury Department Tuesday auctioned $18 billion of four-week bills at a 0.400% high yield, a price of 99.968889.
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The coupon equivalent was 0.406%. The bid-to-cover ratio was 3.96.
Tenders at the high rate were allotted 83.93%. The median rate was 0.370%. The low rate was 0.350%.
The bills have an issue date of March 2 and are due March 30.
Tenders totaled $71,288,481,000 and the Treasury accepted $18,000,106,000, including $416,089,000 non-competitive.
The Fed banks bought nothing for their own account.
