The Treasury Department yesterday auctioned $22 billion of four-week bills at a 0.080% high yield, a price of 99.993778.

The coupon equivalent was 0.081%. The bid-to-cover ratio was 4.08.

Tenders at the high rate were allotted 55.39%. The median yield was 0.050%. The low yield was 0.000%.

The bills have an issue date of April 16 and are due May 14.

Tenders totaled $89,662,240,800 and the Treasury accepted $22,000,431,100, including $343,906,800 of noncompetitive.

Federal Reserve banks bought $3,781,546,000 for their own accounts in exchange for maturing securities.

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