The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 1.170% high yield, a price of 99.909000.

The coupon equivalent was 1.187%. The bid-to-cover ratio was 3.12.

Tenders at the high rate were allotted 15.60%. The median rate was 1.150%. The low rate was 1.120%.

The bills have an issue date of Nov. 30 and are due Dec. 28.

Tenders totaled $140,422,077,500 and the Treasury accepted $45,000,217,500, including $569,281,500 non-competitive.

The Fed banks bought nothing for their own account.

Treasury building.
Treasury building.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.