The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.090% high yield, a price of 99.993000.

The coupon equivalent was 0.091%. The bid-to-cover ratio was 4.26.

Tenders at the high rate were allotted 5.69%. The median yield was 0.080%. The low yield was 0.070%.

The bills have an issue date of Sept. 13 and are due Oct. 11.

Tenders totaled $170,382,457,700 and the Treasury accepted $40,000,215,200, including $274,994,200 non-competitive.

The Fed banks bought nothing for their own account in exchange for maturing securities.

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