The Treasury Department yesterday auctioned $27 billion of four-week bills at a 0.440% high yield, a price of 99.964556.
The coupon equivalent was 0.446%. The bid-to-cover ratio was 2.78. Tenders at the high rate were allotted 15.64%. The median yield was 0.290%. The low yield was zero. Tenders totaled $74,971,305,000 and the Treasury accepted $27,000,055,000, including $446,355,000 of noncompetitive.
The bills have an issue date of Oct. 30 and are due Nov. 28.
Federal Reserve banks bought $3,781,546,000 for their own account in exchange for maturing securities.