The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.960% high yield, a price of 99.925333.
The coupon equivalent was 0.974%. The bid-to-cover ratio was 3.43.
Tenders at the high rate were allotted 4.58%. The median rate was 0.930%. The low rate was 0.830%.
The bills have an issue date of Aug. 31 and are due Sept. 28.
Tenders totaled $85,833,333,800 and the Treasury accepted $25,000,123,800, including $421,700,100 non-competitive.
The Fed banks bought nothing for their own account.
Treasury also sold $40 billion 123-day cash management bills, dated Sept. 1, due Jan. 2, 2018, at a 1.060% high tender rate.
The bid to cover ratio was 3.04.
The coupon equivalent was 1.079%. The price was 99.637833.
The low bid was 1.000%. The median bid was 1.030%. Tenders at the high were allotted 39.79%.
Tenders totaled $121,657,799,000 and the Treasury accepted $40,000,684,000, including $2,799,000 non-competitive.
