The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.840% high yield, a price of 99.934667.
The coupon equivalent was 0.852%. The bid-to-cover ratio was 3.35.
Tenders at the high rate were allotted 47.91%. The median rate was 0.815%. The low rate was 0.740%.
The bills have an issue date of June 6 and are due July 6.
Tenders totaled $133,819,533,100 and the Treasury accepted $40,000,467,100, including $415,709,400 non-competitive.
The Fed banks bought nothing for their own account.