The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 1.295% high yield, a price of 99.899278.

The previous four-week bills went at a high yield of 1.280%.

The coupon equivalent was 1.314%. The bid-to-cover ratio was 2.99.

Tenders at the high rate were allotted 47.48%. The median rate was 1.270%. The low rate was 1.250%.

The bills have an issue date of Jan. 18 and are due Feb. 15.

Tenders totaled $134,674,100,300 and the Treasury accepted $45,000,040,300, including $555,733,600 non-competitive.

The Fed banks bought nothing for their own account.

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