The Treasury Department yesterday auctioned $25 billion of four-week bills at a 1.010% high yield, a price of 99.921444.
The coupon equivalent was 1.025%. The bid-to-cover ratio was 2.80.
Tenders at the high rate were allotted 78.03%. The median yield was 0.600%. The low yield was 0.400%.
The bills have an issue date of Sept. 30 and are due Oct. 30.
Tenders totaled $69,314,347,900 and the Treasury accepted $24,000,220,900, including $780,822,900 of noncompetitive.
Federal Reserve banks bought $3,782,133,000 for their own account in exchange for maturing securities.
