The U.S. Treasury Department revealed Monday that it will sell $34 billion of 4-week bills later this week.

The auction is part of the government's standard weekly schedule of security sales. Auction amounts for recent sales of 4-week bills have increased approximately $10 billion compared to last year, as the government has begun to fund its stimulus efforts.

The sale of the 4-week bills is scheduled to take place Tuesday at 1 PM ET, with the securities having a maturity date of April 30, 2009.

The previous auction for comparable securities took place early last week, where $35 billion worth of the bills were sold. The high rate, also known as the stop-out rate, came in at 0.050 percent. Meanwhile, the auction drew stronger than usual demand, with the bid-to-cover ratio coming in at 3.40.

A bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Later in the day, the Treasury plans to auction off $31 billion worth of 13-week bills. In addition, the government will also sell $29 billion of 26-week bills. Both of the auctions are scheduled to take place at 1 PM ET.

Meanwhile, treasuries have moved well off of their highs on day but remain in positive territory. The yield on the benchmark ten-year note is down to 2.741 percent, a drop of 2.0 basis points on the day.

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