The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.040% high yield, a price of 99.996889.
The coupon equivalent was 0.041%. The bid-to-cover ratio was 3.34.
Tenders at the high rate were allotted 38.31%. The median rate was 0.030%. The low rate was zero.
The bills have an issue date of Aug. 20 and are due Sept. 17.
Tenders totaled $133,501,861,100 and the Treasury accepted $40,000,422,100, including $253,885,200 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
