The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.995% high yield, a price of 99.922611.

The coupon equivalent was 1.010%. The bid-to-cover ratio was 3.24.

Tenders at the high rate were allotted 19.11%. The median rate was 0.970%. The low rate was 0.900%.

The bills have an issue date of Oct. 19 and are due Nov. 16.

Tenders totaled $129,632,467,500 and the Treasury accepted $40,000,165,700, including $495,731,000 non-competitive.

The Fed banks bought nothing for their own account.

Treasury building.
Treasury building.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.