The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.115% high yield, a price of 99.991056.

The coupon equivalent was 0.117%. The bid-to-cover ratio was 3.86.

Tenders at the high rate were allotted 17.54%. The median yield was 0.110%. The low yield was 0.100%.

The bills have an issue date of Oct. 11 and are due Nov. 8.

Tenders totaled $166,751,221,600 and the Treasury accepted $40,001,261,600, including $253,007,600 non-competitive.

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

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