NEW YORK - The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.050% high yield, a price of 99.996111.
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The coupon equivalent was 0.051%. The bid-to-cover ratio was 3.97.
Tenders at the high rate were allotted 34.68%. The median yield was 0.030%. The low yield was zero.
The bills have an issue date of April 7 and are due May 5.
Tenders totaled $158,800,510,200 and the Treasury accepted $40,001,184,200, including $237,135,200 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
