The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.100% high yield, a price of 99.992222.

The coupon equivalent was 0.101%. The bid-to-cover ratio was 3.86.

Tenders at the high rate were allotted 17.54%. The median yield was 0.085%. The low yield was 0.075%.

The bills have an issue date of Oct. 4 and are due Nov. 1.

Tenders totaled $154,251,536,000 and the Treasury accepted $40,001,041,000, including $239,577,200 non-competitive.

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

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