The Treasury Department today auctioned $35 billion of four-week bills at a zero high yield, a price of par.
The coupon equivalent was zero. The bid-to-cover ratio was 4.91.
Tenders at the high rate were allotted 94.55%. The median yield was zero. The low yield was zero.
The bills have an issue date of Sept. 19 and are due Oct. 17.
Tenders totaled $171,909,010,600 and the Treasury accepted $35,000,073,600, including $238,800,900 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.