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 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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