The Treasury Department yesterday auctioned $16 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 5.50.
Tenders at the high rate were allotted 85.42%. The median yield was 0.020%. The low yield was zero.
The bills have an issue date of Jan. 7 and are due Feb. 4.
Tenders totaled $88,078,308,400 and the Treasury accepted $16,000,378,400, including $250,580,400 of noncompetitive.
The Federal Reserve banks bought $2,418,028,000 for their own account in exchange for maturing securities.