The Treasury Department yesterday auctioned $24 billion of four-week bills at a 1.550% high yield, a price of 99.879444.

The coupon equivalent was 1.573%. The bid-to-cover ratio was 3.00.

Tenders at the high rate were allotted 6.44%. The median yield was 1.470%. The low yield was 1.350%.

The bills have an issue date of May 8 and are due June 5.

Tenders totaled $72,052,809,100 and the Treasury accepted $24,000,009,100, including $362,109,100 of noncompetitive.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.