The Treasury Department Tuesday auctioned $40 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 4.13.
Tenders at the high rate were allotted 7.26%. The median yield was 0.070%. The low yield was 0.000%.
The bills have an issue date of Sept. 20 and are due Oct. 18.
Tenders totaled $165,206,059,300 and the Treasury accepted $40,001,089,300, including $209,924,400 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.