The Treasury Department Tuesday auctioned $50 billion of four-week bills at a 1.045% high yield, a price of 99.918722.

The coupon equivalent was 1.060%. The bid-to-cover ratio was 3.13.

Tenders at the high rate were allotted 80.11%. The median rate was 1.030%. The low rate was 1.000%.

The bills have an issue date of Nov. 16 and are due Dec. 14.

Tenders totaled $156,324,268,800 and the Treasury accepted $50,000,240,800, including $557,581,300 non-competitive.

The Fed banks bought nothing for their own account.

Bloomberg News

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