The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.025% high yield, a price of 99.998056.
The coupon equivalent was 0.025%. The bid-to-cover ratio was 3.94.
Tenders at the high rate were allotted 67.52%. The median rate was 0.020%. The low rate was 0.005%.
The bills have an issue date of December 12 and are due January 9, 2014.
Tenders totaled $157,495,000,000 and the Treasury accepted $39,754,000,000, including $246,000,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
