The Treasury Department Tuesday auctioned $40 billion of four-week bills at a zero high yield, a price of par.
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The coupon equivalent was zero. The bid-to-cover ratio was 4.25.
Tenders at the high rate were allotted 78.85%. The median rate was zero. The low rate was zero.
The bills have an issue date of April 30 and are due May 28.
Tenders totaled $127,588,821,600 and the Treasury accepted $30,000,041,600, including $278,120,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
