The Treasury Department Tuesday auctioned $30 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 3.83.
Tenders at the high rate were allotted 84.95%. The median rate was zero. The low rate was zero.
The bills have an issue date of May 7 and are due June 4.
Tenders totaled $115,039,353,900 and the Treasury accepted $30,003,407,500, including $279,673,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
