The Treasury Department Tuesday auctioned $18 billion of four-week bills at a zero high yield, a price of par.
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The coupon equivalent was zero. The bid-to-cover ratio was 5.66.
Tenders at the high rate were allotted 36.80%. The median rate was zero. The low rate was zero.
The bills have an issue date of January 9, and are due February 6.
Tenders totaled $101,861,560,500 and the Treasury accepted $18,001,335,400, including $240,549,700 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.
