NEW YORK - The Treasury Department Tuesday auctioned $28 billion of four-week bills at a 0.035% high yield, a price of 99.997278.
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The coupon equivalent was 0.036%. The bid-to-cover ratio was 4.60.
Tenders at the high rate were allotted 31.64%. The median yield was 0.025%. The low yield was zero.
The bills have an issue date of May 26 and are due June 23.
Tenders totaled $128,843,836,500 and the Treasury accepted $28,000,064,500, including $232,929,200 non-competitive.
The Fed banks bought $2,418,028,000 for their own account in exchange for maturing securities.
