NEW YORK - The Treasury Department Tuesday auctioned $28 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 4.70.
Tenders at the high rate were allotted 78.18%. The median yield was 0.035%. The low yield was 0.010%.
The bills have an issue date of June 2 and are due June 30.
Tenders totaled $131,500,271,800 and the Treasury accepted $28,000,101,800, including $190,056,800 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
