The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.695% high yield, a price of 99.945944.

The coupon equivalent was 0.705%. The bid-to-cover ratio was 2.99.

Bloomberg News

Tenders at the high rate were allotted 73.28%. The median rate was 0.670%. The low rate was 0.600%.

The bills have an issue date of May 18 and are due June 15.

Tenders totaled $164,233,850,200 and the Treasury accepted $55,000,010,200, including $379,533,800 non-competitive.

The Fed banks bought nothing for their own account.

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