The Treasury Department Monday auctioned $20 billion of four-week bills at a 0.005% high yield, a price of 99.999611.
The coupon equivalent was 0.005%. The bid-to-cover ratio was 4.26.
Tenders at the high rate were allotted 57.18%. The median rate was zero. The low rate was zero.
The bills have an issue date of January 2, 2014, and are due January 30, 2014.
Tenders totaled $85,176,874,000 and the Treasury accepted $20,000,494,000, including $210,242,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
