The Treasury Department yesterday auctioned $27 billion of four-week bills at a 0.700% high yield, a price of 99.945556.

The coupon equivalent was 0.710%. The bid-to-cover ratio was 2.49.

Tenders at the high rate were allotted 87.14%. The median yield was 0.550%. The low yield was 0.250%.

The bills have an issue date of Oct. 23 and are due Nov. 20.

Tenders totaled $66,745,200,000 and the Treasury accepted $26,604,177,000, including $395,897,200 of noncompetitive.

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