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.
James Pruitt, Qingwa, LLC/qingwa - 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.
