The Treasury Department yesterday auctioned $28 billion of four-week bills at a 1.865% high yield, a price of 99.854944.

The coupon equivalent was 1.894%. The bid-to-cover ratio was 2.48. Tenders at the high rate were allotted 21.87%. The median yield was 1.830%. The low yield was 1.750%. Tenders totaled $69,344,271,800 and the Treasury accepted $28,000,176,800, including $391,271,800 of noncompetitive.

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