The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.980% high yield, a price of 99.923778.
The coupon equivalent was 0.994%. The bid-to-cover ratio was 2.95.
Tenders at the high rate were allotted 64.37%. The median rate was 0.945%. The low rate was 0.910%.
The bills have an issue date of July 27 and are due Aug. 24.
Tenders totaled $132,895,043,700 and the Treasury accepted $45,000,058,700, including $410,466,200 non-competitive.
The Fed banks bought nothing for their own account.