The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.885% high yield, a price of 99.931167.

The coupon equivalent was 0.898%. The bid-to-cover ratio was 3.27.

FHA might be able to remain self-funding this year without seeking a draw from the U.S. Treasury. Image: Fotolia.
FHA might be able to remain self-funding this year without seeking a draw from the U.S. Treasury. Image: Fotolia.

Tenders at the high rate were allotted 2.29%. The median rate was 0.840%. The low rate was zero.

The bills have an issue date of June 15 and are due July 13.

Tenders totaled $114,311,271,500 and the Treasury accepted $35,000,011,500, including $380,714,100 non-competitive.

The Fed banks bought nothing for their own account.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.