The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.970% high yield, a price of 99.924556.

The coupon equivalent was 0.984%. The bid-to-cover ratio was 3.49.

Tenders at the high rate were allotted 15.54%. The median rate was 0.950%. The low rate was 0.920%.

Bloomberg News

The bills have an issue date of Sept. 14 and are due Oct. 12.

Tenders totaled $122,263,453,000 and the Treasury accepted $35,000,263,000, including $494,890,000 non-competitive.

The Fed banks bought nothing for their own account.

Treasury also sold $20 billion of 364-day bills at a 1.240% high yield, a price of 98.746222.

The coupon equivalent was 1.269%. The bid-to-cover ratio was 3.16.

Tenders at the high rate were allotted 5.32%. The median yield was 1.210%. The low yield was 1.180%.

The bills have an issue date of Sept. 14 and are due Sept. 13, 2018.

Tenders totaled $63,210,597,500 and the Treasury accepted $20,000,305,500, including $202,397,500 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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.