The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.105% high yield, a price of 99.991833.

The coupon equivalent was 0.106%. The bid-to-cover ratio was 4.35.

Tenders at the high rate were allotted 12.08%. The median yield was 0.095%. The low yield was 0.080%.

The bills have an issue date of Sept. 6 and are due Oct. 4.

Tenders totaled $173,808,796,500 and the Treasury accepted $40,000,764,500, including $256,203,500 non-competitive.

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

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