The Treasury Department Tuesday announced it auctioned $40 billion of four-week bills at a 0.060% high yield and a price of 99.995333.

The coupon equivalent was 0.061%. The bid-to-cover ratio was 4.50.

Tenders at the high rate were allotted 55.84%. The median yield was 0.050%. The low yield was 0.040%.

The bills have an issue date of March 8 and are due April 5. Tenders totaled $180,162,001,000 and the Treasury accepted $40,000,193,000, including $291,341,100 of noncompetitive.

The Federal Reserve said its banks bought $5,937,991,000 for their own account in exchange for maturing securities.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.