The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.480% high yield, a price of 99.962667.
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The coupon equivalent was 0.487%. The bid-to-cover ratio was 3.60.
Tenders at the high rate were allotted 63.61%. The median rate was 0.465%. The low rate was 0.400%.
The bills have an issue date of Feb. 23 and are due March 23.
Tenders totaled $125,947,426,300 and the Treasury accepted $35,000,644,500, including $338,455,900 non-competitive.
The Fed banks bought nothing for their own account.
