The Treasury Department Tuesday auctioned $50 billion of four-week bills at a 1.020% high yield, a price of 99.920667.

The coupon equivalent was 1.035%. The bid-to-cover ratio was 2.99.

Bloomberg News

Tenders at the high rate were allotted 58.49%. The median rate was 1.000%. The low rate was 0.970%.

The bills have an issue date of Nov. 2 and are due Nov. 30.

Tenders totaled $149,315,993,600 and the Treasury accepted $50,000,401,100, including $541,606,600 non-competitive.

The Fed banks bought nothing for their own account.

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