The Treasury Department yesterday auctioned $29 billion of four-week bills at a 3.100% high yield, a price of 99.758889.
The coupon equivalent was 3.159%. The bid-to-cover ratio was 2.32.
Tenders at the high rate were allotted 92.52%. The median yield was 2.970%. The low yield was 2.750%.
The bills have an issue date of Dec. 6 and are due Jan. 3, 2008.
Tenders totaled $67,234,678,000 and the Treasury accepted $29,000,238,000, including $399,978,000 of noncompetitive.
Federal Reserve banks bought nothing for their own accounts in exchange for maturing securities.
