Treasury 4-weeks auctioned at 0.735% high yield on April 25

The Treasury Department Tuesday auctioned $60 billion of four-week bills at a 0.735% high yield, a price of 99.942833.

The coupon equivalent was 0.746%. The bid-to-cover ratio was 3.32.

Tenders at the high rate were allotted 21.76%. The median rate was 0.730%. The low rate was 0.700%.

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The US Treasury Department has appealed to the Sixth Circuit Court a pair of lawsuits with Ohio and Kentucky that have blocked the department from enforcing an ARPA provision that restricts the states from using the funds to offset tax cuts.

The bills have an issue date of April 27 and are due May 25.

Tenders totaled $199,388,748,400 and the Treasury accepted $60,000,745,100, including $429,738,400 non-competitive.

The Fed banks bought nothing for their own account.

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