The Treasury Department Tuesday auctioned $35 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 3.23.

Tenders at the high rate were allotted 57.07%. The median rate was 0.960%. The low rate was 0.920%.

The bills have an issue date of Oct. 5 and are due Nov. 2.

Tenders totaled $112,914,270,000 and the Treasury accepted $35,000,350,000, including $549,864,000 non-competitive.

The Fed banks bought nothing for their own account.

Bloomberg News

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