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.

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