The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.985% high yield, a price of 99.923389.
The coupon equivalent was 0.999%. The bid-to-cover ratio was 3.06.
Tenders at the high rate were allotted 59.83%. The median rate was 0.965%. The low rate was 0.910%.
The bills have an issue date of Aug. 10 and are due Sept. 7.
Tenders totaled $137,828,649,500 and the Treasury accepted $45,000,064,500, including $444,816,500 non-competitive.
The Fed banks bought nothing for their own account.