NEW YORK - The Treasury Department today auctioned $16 billion of four-week bills at a 0.040% high yield, a price of 99.996889.
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The coupon equivalent was 0.041%. The bid-to-cover ratio was 5.18.
Tenders at the high rate were allotted 58.35%. The median yield was 0.010%. The low yield was zero.
The bills have an issue date of Sept. 24 and are due Oct. 22.
Tenders totaled $82,815,927,700 and the Treasury accepted $16,000,180,200, including $315,438,700 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
