The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.050% high yield, a price of 99.996111.
The coupon equivalent was 0.051%. The bid-to-cover ratio was 4.64.
Tenders at the high rate were allotted 11.55%. The median rate was 0.050%. The low rate was 0.010%.
The bills have an issue date of Dec 13 and are due Jan. 10, 2013.
Tenders totaled $185,649,322,500 and the Treasury accepted $40,001,272,500, including $241,592,500 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.