The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.020% high yield, a price of 99.998444.
The coupon equivalent was 0.020%. The bid-to-cover ratio was 2.98.
Tenders at the high rate were allotted 71.10%. The median rate was 0.010%. The low rate was zero.
The bills have an issue date of July 16 and are due Aug. 13.
Tenders totaled $134,174,681,100 and the Treasury accepted $45,000,931,100, including $255,059,600 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
