Treasury 4-Week Bills Are Sold at High Yield of 0.98%
The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.980% high yield, a price of 99.923778.
The coupon equivalent was 0.994%. The bid-to-cover ratio was 3.23.
Tenders at the high rate were allotted 57.07%. The median rate was 0.960%. The low rate was 0.920%. The bills have an issue date of Oct. 5 and are due Nov. 2.
Tenders totaled $112,914,270,000 and the Treasury accepted $35,000,350,000, including $549,864,000 non-competitive.
The Fed banks bought nothing for their own account.