The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.710% high yield, a price of 99.944778.

The coupon equivalent was 0.720%. The bid-to-cover ratio was 3.25.


Tenders at the high rate were allotted 94.28%. The median rate was 0.700%. The low rate was 0.600%.

The bills have an issue date of May 11 and are due June 8.

Tenders totaled $178,562,674,300 and the Treasury accepted $55,000,590,700, including $374,669,700 non-competitive.

The Fed banks bought nothing for their own account.

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