NEW YORK - The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.135% high yield, a price of 99.989500.
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The coupon equivalent was 0.137%. The bid-to-cover ratio was 4.22.
Tenders at the high rate were allotted 19.71%. The median yield was 0.120%. The low yield was 0.100%.
The bills have an issue date of March 3 and are due March 31.
Tenders totaled $168,847,216,200 and the Treasury accepted $40,001,111,200, including $272,017,200 non-competitive.
The Fed banks bought $2,418,028,000 for their own account in exchange for maturing securities.
