The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.990% high yield, a price of 99.923000.

Bloomberg News

The coupon equivalent was 1.005%. The bid-to-cover ratio was 2.90.

Tenders at the high rate were allotted 18.08%. The median rate was 0.960%. The low rate was 0.940%.

The bills have an issue date of Aug. 3 and are due Aug. 31.

Tenders totaled $130,557,572,100 and the Treasury accepted $45,000,412,100, including $367,295,400 non-competitive.

The Fed banks bought nothing for their own account.