The Treasury Department Tuesday auctioned $50 billion of four-week bills at a 1.280% high yield, a price of 99.900444.

Bloomberg News

The coupon equivalent was 1.299%. The bid-to-cover ratio was 3.03.

Tenders at the high rate were allotted 0.57%.The median rate was 1.250%. The low rate was 1.230%.

The bills have an issue date of Jan. 11 and are due Feb. 8.

Tenders totaled $151,490,501,400 and the Treasury accepted $50,000,116,400, including $557,335,900 non-competitive.

The Fed banks bought nothing for their own account.

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