The Treasury Department yesterday auctioned $18 billion of four-week bills at a 0.140% high yield, a price of 99.989111.

The coupon equivalent was 0.142%. The bid-to-cover ratio was 5.01.

Tenders at the high rate were allotted 14.55%. The median yield was 0.130%. The low yield was 0.090%.

The bills have an issue date of April 22 and are due May 20.

Tenders totaled $89,970,340,400 and the Treasury accepted $17,740,894,400, including $260,616,400 of noncompetitive.

Federal Reserve banks bought $6,285,546,000 for their own account in exchange for maturing securities.

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