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 3.18.

Tenders at the high rate were allotted 0.63%. The median rate was 0.940%. The low rate was 0.900%.

The bills have an issue date of Sept. 28 and are due Oct. 26.

Tenders totaled $111,406,046,100 and the Treasury accepted $35,000,206,100, including $456,270,400 non-competitive.

The Fed banks bought nothing for their own account.

Bloomberg News

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