The Treasury Department yesterday auctioned $23 billion of four-week bills at a 1.990% high yield, a price of 99.845222.
The coupon equivalent was 2.021%. The bid-to-cover ratio was 2.67.
Tenders at the high rate were allotted 26.43%. The median yield was 1.910%. The low yield was 1.750%.
The bills have an issue date of June 12 and are due July 11.
Tenders totaled $60,992,197,800 and the Treasury accepted $22,468,077,000, including $433,197,000 of noncompetitive.
Federal Reserve banks bought nothing for their own account in exchange for maturing securities.