The Treasury Department yesterday auctioned $20 billion of four-week bills at a 1.580% high yield, a price of 99.877111.

The coupon equivalent was 1.604%. The bid-to-cover ratio was 2.81. Tenders at the high rate were allotted 21.34%. The median yield was 1.520%. The low yield was 1.400%.

Tenders totaled $56,265,023,300 and the Treasury accepted $20,000,123,300, including $346,431,300 of noncompetitive.

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