NEW YORK - The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.070% high yield, a price of 99.994556.
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The coupon equivalent was 0.071%. The bid-to-cover ratio was 3.82.
Tenders at the high rate were allotted 11.57%. The median yield was 0.050%. The low yield was zero.
The bills have an issue date of March 10 and are due April 7.
Tenders totaled $152,981,846,800 and the Treasury accepted $40,000,572,800, including $287,681,800 non-competitive.
The Fed banks bought $5,937,991,000 for their own account in exchange for maturing securities.
